By Guy Taylor
London Stansted Airport has been granted planning permission to extend its terminal building, a plan that will help it create 5,000 jobs and double its annual contribution to the UK economy.
The project, proposed over the summer, will add a three-bay extension to the back of the terminal building, increasing its size by 16,500m .
Stansted estimates the expansion will ramp up its yearly GDP contribution to £2bn. In a statement today, the airport said it would create a more spacious departure lounge, greater choice of shops, bars and restaurants, increased baggage capacity and higher check-in speeds through security.
Gareth Powell, London Stansted’s managing director, said: “Our plans will transform the airport experience for everyone connected with London Stansted, so today’s decision by the Planning Inspectorate to approve our scheme is excellent news for our passengers, colleagues, airport partners and the region we serve.”
“Stansted is a national and regional asset, and our investment plans are not only an exciting prospect for our passengers and colleagues, they will also boost our competitiveness within the London aviation market, which in turn will support economic growth, jobs and vital international connectivity for London and the East of England.”
The North-East London hub served 27m passengers last year and is the UK’s fastest recovering major airport from the pandemic, breaking pre-pandemic traffic levels for the first time in August.
It was seperately granted permission to expand its passenger capacity to 43m per year in 2021.
In an interview with City A.M. yesterday, chief Powell said passenger growth would be critical to boosting the London-Cambridge tech corridor amid huge demand from the region for more long-haul routes.
Manchester Airports Group (MAG), the conglomerate which runs Stansted, posted a record £1bn revenue in its annual results on the back of booming pent-up demand for travel, which has swept the aviation sector this year.
