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April 6, 2016

London City Airport contributes £11bn in European trade

Research group Oxford Economics has revealed that London City Airport contributes nearly £11 billion to the UK and London economy through trade exports to ten major European markets.

By Lopamudra Roy

UK

Research group Oxford Economics has revealed that London City Airport contributes nearly £11 billion to the UK and London economy through trade exports to ten major European markets.

The group reports that journeys from the airport account for 5% of all UK exports to the ten countries, which totalled £218bn in 2014.

A survey has also been conducted by market researcher ComRes that included more than 1,000 business decision-makers in Central London business districts.

It reveals huge support for the airport’s expansion, with 73% siding with plans established in the City Airport Development Programme (CADP).

Of those surveyed, 82% believe that expanding aviation capacity in London’s south east region is essential for the growth of business in the city.

London City Airport chief executive Declan Collier said: "London City Airport is poised to provide an interim solution to much needed aviation capacity in the south east.

"Today’s report and survey prove that our expansion would provide clear benefits for the UK economy and that there is a huge appetite among key business leaders, who rely on air connectivity for their companies to thrive.

"Today’s report and survey prove that our expansion would provide clear benefits for the UK economy."

"If we get the green light, we can start delivering extra capacity within 18 months, meeting this demand and increasing our contribution to both the local and national economies, from our location just a few miles from London’s key financial and business districts."

In 2015, London City Airport handled 4.3 million passengers, the largest annual number witnessed by the airport since it opened in 1987.

The city airport also welcomed 17,846 passengers on 24 March, the highest number of passengers handled by the airport in a single day.

More than half of the passengers moving in and out the city airport travel for business.

The Global Business Travel Association recently estimated a 6% rise in the £26bn UK business travel market this year.


Image: In 2015, London City Airport handled a record-breaking 4.3 million passengers. Photo: courtesy of London City Airport.

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