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London City Airport benefits UK economy says report

London CityLondon City Airport's contribution to London and the wider UK economy has been highlighted in a new report from Oxford Economics.

Approximately £11 billion of UK trade exports to ten key European markets can be associated with trips from the airport and that figure accounts for 5% of the UK's entire exports to those countries, according to the study.

Expansion plans

As well as the Oxford Economics report, another new survey of more than 1,000 business decision-makers in Central London found strong support for the expansion plans currently being put forward in the City Airport Development Programme.

The research from ComRes revealed that 73% of those business decision-makers who took part backed the programme, as well as reporting that four in five respondents believe increased aviation capacity in the south east is needed for London's businesses to grow.

More than half of those surveyed by ComRes think that a short-term capacity solution is needed before 2029. The Government has currently set 2030 as the deadline for a new runway at either Gatwick or Heathrow.

Clear benefits

Declan Collier, Chief Executive of the Airport said: “London City Airport is poised to provide an interim solution to much needed aviation capacity in the south east.

“Today's report and survey prove that our expansion would provide clear benefits for the UK economy and that there is a huge appetite among key business leaders, who rely on air connectivity for their companies to thrive.”

The airport's CEO went on to say that if they were to be given the green light, extra capacity could be delivered within 18 months.

Last year London City Airport broke its own record by attracting 4.3 million passengers, which is the biggest figure since it began operations in 1987. On Thursday 24 March 2016, 17,846 passengers broke the record for a single day.

In excess of half the number of passengers who use the airport do so for business travel and a recent estimate by the Global Business Travel Association gives a 6% growth figure this year for the UK business travel market which is currently worth £26 billion.

Date Created: 13 April 2016

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