Canberra Airport's 2014 Master Plan has received green signal from the Australian Government, setting out the strategic plan for the next two decades.
The latest plan proposes to benefit from the airport's new passenger terminal by focusing on the long-awaited launch of international flights by low-cost carriers from Canberra.
Deputy prime minister and minister for infrastructure and regional development Warren Truss said: "Canberra Airport boasts the nation's newest passenger terminal and the commencement of international flights as outlined in the 2014.
"Master Plan will be an important step in promoting the Canberra region as a jewel in the nation's tourism crown.
"Ongoing investment in the airport will provide benefits to the local, regional and national economies for many years to come."
The plan proposes an intention to use the airport's 24h status to become Sydney's freight airport, which is expected to kickoff operations in about five to seven years, starting with two to three jet freighter aircraft every night, increasing to five aircraft within three years.
The airport say it will create close to 1,000 jobs, with the noise to impact 750 homes.
Originally released for public comment in March last year, plan involves ongoing refurbishments to aircraft taxiways and parking aprons, in addition to road and transport facilities.
Installation of a new air traffic control tower and expansion of airline catering, maintenance and freight businesses at the southern end of Pialligo precinct, and expansion of passenger terminal are also reportedly proposed under the plan.
Truss added: "The Australian Government supports measures to both better understand and mitigate the impacts of aircraft noise, and Canberra Airport is encouraged to continue working with the community on this important issue."
The airport now has 50 business days to make the plan public.
Image: Canberra Airport is awaiting the launch of international flights by low-cost carriers from Canberra. Photo: courtesy of Capital Airport Group.