London City Airport has been given the green light for a £344M development programme, with construction and procurement contracts worth £294M in the pipeline.
The Airport said the plans will create 500 construction jobs and the construction contracts will be open to companies across the UK.
The City Airport Development Programme (CADP) will entail seven new aircraft stands, a parallel taxiway and passenger terminal extension. It’s hoped the changes will enable passenger numbers to grow from 4.3M last year to 6.5M.
The Airport’s chief executive Declan Collier said: “Today, the new Government has shown it is ready to act in the best interests of the British economy. Expansion at London City Airport will create more than 2,000 new jobs in East London, add much-needed aviation capacity in the South East, and generate an additional £750M per year for the UK economy. As the airport serving by far the highest proportion of business travellers in the UK – 52% – who do some £11bn of trade in Europe annually, today the Government has sent a strong message that London and the UK are very much open for business. I welcome the decision and look forward to delivering new airport capacity for the South East by 2019.”
London City Airport will also fund transport links around the airport, including £2.6M for additional Docklands Light Railway rolling stock, investing in a bus and taxi access scheme and improving walking and cycle routes to the airport.
Transport Secretary Chris Grayling said: “This is fantastic news for London and Britain as a whole. I am determined to invest in the infrastructure this country needs, to help people get around more easily, boost investment and create opportunities.
“London City Airport is an engine for growth in the City, serving the community in which it operates and providing a vital link to our regional airports and the rest of the country.
“These new plans for London City Airport will deliver jobs and business in the capital and more widely. Companies across the UK will be able to bid for construction and procurement contracts worth £294M, meaning the benefits will be felt up and down the country.”