London Gatwick Airport has decided to increase its investment by an additional £200m in a bid to boost the airport’s continued record growth.
London Mayor Sadiq Khan has supported the additional investment as well as the expansion plans of the airport with the construction of a second runway.
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Sadiq Khan said: “Gatwick is the front door to London for millions of visitors to our city and I salute their decision to spend another £200m on improvements to the airport.
“They have put together a formidable plan that is a fantastic display of their confidence in London.”
The investment will be used to transform, renovate and improve the airport.
Gatwick Airport CEO Stewart Wingate said: “As Gatwick rapidly approaches full capacity, this increased investment paves the way for our second runway project.”
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By GlobalDataGatwick's total investment could reach £1.2bn over the next five years and £2.5bn by 2021, based on calculations made since the airport’s new ownership in 2009.
Wingate added: “This investment will also make sure that we can continue Gatwick’s record growth and transformation.”
As part of Gatwick Airport’s Capital Investment Programme, projects will be carried out between 2016 and 2021 to expand the airport’s north and south terminals, modernise retail facilities, build additional aircraft parking stands, and optimise taxiways.
This new investment will help Gatwick to carry out its planned projects that are designed to address the airport’s growing traffic.
