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London City Airport has been granted planning permission from the UK Government to allow expansion plans that will inject £1.5 billion each year into the economy.
The City Airport Development Programme (CADP) is a £344 million privately funded investment, which includes plans for a parallel taxiway, seven new aircraft stands and passenger terminal extension.
The development is expected to transform the airport, allowing it to welcome quieter next generation aircraft while also increasing capacity.
Last year the airport saw a record-breaking 4.3 million passengers pass through, whilst after the development it will be able to welcome 6.5 million by the year 2025.
The Government’s approval of the development was made during a visit to the airport by Philip Hammond MP, the Chancellor of the Exchequer, and Aviation Minister Lord Ahmad of Wimbledon.
Expansion of London City Airport is expected to create more than 2,000 new jobs in East London and add vital aviation capacity in the South East.
According to Declan Collier, CEO, London City Airport, the airport serves the highest proportion of business travellers in the UK (52%), who are estimated to do £11 billion of trade in Europe annually.
The construction phase of the airport development will create 500 jobs as well as an additional 1,600 once it is completed.
Plans, which are already permitted, are in place for the airport to provide an extra 32,000 flights by the year 2025, helping unlock more air capacity within the capital’s airport system prior to the development of a new runway in the South East of England.
Additionally, there will be greater opportunities for airlines to fly to longer-haul destinations including the Middle East, the east coast of the United States and The Gulf.
If you’re thinking of travelling abroad this year, be sure to organise your business travel insurance in advance.
Date Created: 29/07/2016