The new multi million pound expansion set for Luton Airport is set to bring in a staggering £1 billion into the UK’s economy.
In a study by Oxford Economics, the expansion that sees increasing passenger numbers by 6 million to 18 million in the next few years, the airport will make huge waves into the South’s air capacity crisis and as a result will generate a huge income for the UK.
The new development has already started, which is costing £110 million, and is due for completion by 2020, which will create 10,000 new jobs in the process.
The airport is going from strength to strength, with an increase in passengers by 24% this November compared to the same month last year, it makes it the UK’s fastest growing airport.
Speaking about the report, Nick Barton, Luton Airport’s Chief Executive Officer, said, “This report vividly illustrates the economic benefits that LLA brings to the local and regional economy. As we deliver on our ambitious £110 million plans to transform the airport, we will be working hard to ensure that our region and local communities reap the maximum benefit and share in our success.”