Report says London City Airport worth £500m a year to economy
11.02.11
London City Airport is vital to the future growth of the capital, according to a report by business analysts for the London Chamber of Commerce and Industry. It found the Docklands airport was ‘at the heart’ of east London regeneration for the past 25 years and today it contributes around £500 million every year to the UK economy as it continues to support London’s financial services sector.
The report, carried out by York Aviation and surveying more than 40 businesses and community groups in east London, found the economic contribution of the airport to London was significant. Colin Stanbridge, chief executive of the LCCI, said: ‘With international links increasingly important, London City Airport remains integral to London’s economy, serving the needs of a global community that demands easy access to clients and colleagues.’
Richard Gooding, chief executive of City Airport, said the report addressed some of the ‘unbalanced’ debate with aviation opponents. He said: ‘Whilst we have to do everything we possibly can to mitigate environmental impacts, we run into the trap of ignoring the benefits. We’re the best connected city in the world – we’re not a world city, we’re the world city. The people who use London City are the engine rooms of London’s economy.’
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