London City Airport given green light for massive expansion

The go-ahead was given to London City Airport for a massive expansion at a cost of 450 million U.S. dollars on Wednesday.

The expansion will create more than 2,000 jobs at the airport and add 2 billion dollars to the British economy by 2025, said a government statement.

Chancellor of the Exchequer Philip Hammond welcomed the approval for the project. "London City Airport's ambitious growth plans will boost international connections, strengthen the City of London's links to destinations across the world, and send a clear signal that Britain is open for business," he said.

"Making it easier to visit and do business in the City of London will help drive forward our economy and further strengthen the city's status as the world's leading financial center. This is a real vote of confidence in the resilience of our economy, creating over a thousand new jobs," the British finance minister said.

The expansion project includes an extended terminal, a new aircraft taxiway and more parking spaces, in a bid to accommodate an increasing number of passengers.

London City Airport was opened 29 years ago, and has been serving as a leading business airport reaching 40 destinations across Britain, Europe and the United States. It handles around 4.5 million passengers each year. Endi