Even though the global recession will delay some parts of the construction work by four years, the airport will go ahead with its expansion plans.
The environmental effects of increased flights will be diminished through the introduction of quieter and more fuel-efficient aircraft.
The airport has already invested £9m for transport improvements, which include local road improvements, a public transport interchange located next to the new terminal and a proposed rapid transit service to Bristol city centre.
The public transport interchange will be built on top of a multistorey car park, with covered pedestrian access linking both to the terminal.
The airport also aims to double its terminal size and increase the passenger numbers arriving at the airport by public transport from 10% to 15%.
Despite of economic down turn, the airport has predicted that it will manage ten million passengers a year by 2019, up from the current six million.
The airport claims that the expansion would costs between £1.9 and £2bn in the south west region for the next ten years.
Meanwhile, following some opposing for the expansion plans, a six-week public consultation will be implemented at the airport to know the passengers views.