London City airport to receive £344mn expansion

Ministers have approved the planned £344mn expansion of London City Airport, in a move which will create at least 1600 jobs in the capital.

The added operations will include an extra terminal, better public transport links and new aircraft stands that will allow bigger planes to use the facilities.

30,000 additional flights per year are to be expected in the Docklands airport, which is the preferred destination of many businessmen and politicians.

The plans were approved by chancellor Philip Hammond, transport secretary Chris Gayling and communities secretary Sajid Javid.

Former mayor of London and current Foreign Affairs secretary Boris Johnson previously blocked the expansion due to concerns from residents in north-east London about disruption.

Mr Hammond said: “London City Airport’s ambitious growth plans will boost international connections, strengthening the City of London’s links to destinations across the world, and send a clear signal that Britain is open for business.”

Last year the airport had 4.3 million passengers, and it hopes to expand to 6 million by 2023.

London City Airport was bought by a consortium headed by the Ontario Teachers' pension fund and Borealis in February of this year for $2bn, having previously been owned by Global Infrastructure Partners, and before that, Irish tycoon Dermot Desmond.