A £1.1 billion investment to expand London Stansted Airport has been hailed by government ministers, with the project expected to create over 5,000 jobs and double the airport’s annual contribution to the UK economy to £2 billion. The investment, unveiled at the International Investment Summit in London, aims to enhance Stansted’s infrastructure to support UK businesses and the aviation sector.
The investment will fund a major expansion of Stansted’s terminal, increasing its capacity by a third and securing new air routes to key business and holiday destinations. The project, which will also include improvements to the existing terminal and airport estate, is set to begin construction in 2025 and take up to three years to complete.
The plans, which already have planning permission, will also deliver a 14.3-megawatt on-site solar farm to meet Stansted’s growing electricity demands, along with a new electric vehicle charging forecourt.
Ken O’Toole, Chief Executive Officer of Manchester Airports Group (MAG), which owns Stansted, said the investment will enhance connectivity for London and the East of England. By investing more than £1 billion in Stansted over the next five years, we will be able to connect people and businesses to even more global destinations,” O’Toole said.
The project underscores the government’s commitment to expanding the UK’s transport infrastructure while supporting environmental goals and boosting the aviation sector.
