£1.1 Billion investment to expand Stansted Airport announced, creating 5,000 jobs – Harrow Online

A £1.1 billion investment in London Stansted Airport was announced today, with government ministers welcoming the expansion. The plans are expected to create over 5,000 jobs and double the airport’s economic contribution to the UK, bringing it to £2 billion annually.

The project, revealed by the Prime Minister at the International Investment Summit in London, will see the airport’s existing terminal expanded by a third. This development will secure new air routes to business and holiday destinations and strengthen local supply chains.

The investment includes £600 million for the terminal extension and £500 million for improving the current terminal and wider airport infrastructure. It also includes the development of a 14.3MW on-site solar farm to support the airport’s growing electricity demands, alongside a new electric vehicle (EV) charging forecourt.

Manchester Airports Group (MAG), the owner of London Stansted, is expected to begin construction in 2025, with completion anticipated within two to three years. The project will improve passenger experiences, with upgrades planned for the security hall, airfield taxiway, and gate rooms.

The expansion has already received planning permissions and aligns with previously agreed passenger and flight numbers.

Transport Secretary Louise Haigh said: “We have been steadfast in our commitment to help British businesses grow and in turn boost the UK’s economy. This announcement is a clear signal that Britain is open for business.

“Transport is central to this Government’s core mission of growing the economy. This is about giving companies like Manchester Airports Group the confidence to invest, boosting regional and national economic growth, and supporting the aviation sector while also meeting our existing environmental obligations.”

Ken O’Toole, CEO of MAG, said: “By investing more than £1bn in Stansted over the next five years, we will be able to connect people and businesses in London and the east of England to even more global destinations, while welcoming millions more visitors to the UK.

“We are proud to be investing in our infrastructure in a way that will create jobs and stimulate trade, investment and tourism.”

Cath Bowtell, IFM Investors Chair, added: “As co-owners of MAG, our commitment to this exciting new Stansted project reflects our confidence in the airport’s future growth story.”