A new study from York Aviation, one of the UK’s leading specialist independent air transport consultancies and the leader in airport economic impact assessments, has revealed that London City Airport directly contributes over £1/2 billion to the economy each year.
Based on a thorough literary review, on-site research and interviews with leading business figures across the Capital, the study highlights for the first time the combined economic benefits that London City Airport delivers. This includes;
Alongside this the York study demonstrates that London City Airport’s role in facilitating wider economic growth could support as much as an additional £944 million of GDP including;
The findings from the study come after a speech in Shoreditch on 4 November by the Prime Minister, David Cameron, in which he noted that ‘quick access’ from London City Airport had been an integral part of the growth and success of East London
Richard Gooding OBE, Chief Executive of London City Airport commented:
“This study confirms just how important London City Airport is to the national, regional and local economies. Our growth has gone hand in hand with the success of Canary Wharf, the City of London and enterprises like ExCel showing that we are key to business productivity and the revenue that is generated by passengers using the Airport.”
“These findings also support the comments from the Prime Minister who just last week emphasised London City Airport’s major role in the ongoing regeneration of East London.”
Louise Congdon, Managing Partner, York Aviation said:
“Our study clearly demonstrates that London City Airport makes an important direct contribution to the economy through its own activities and the convenient access which it affords to passengers travelling to and from Docklands and the City of London.
“The Airport played a pivotal role in underpinning the vision which led to the regeneration of the Docklands in the 1990s and remains absolutely critical to continuing economic growth in the Thames Gateway area.”
As part of the York study, over 30 leading business and public sector figures were interviewed and asked their views on the economic importance of London City Airport. Comments included;
“The Airport is a key selling point for ExCeL and an important part of its success” Kevin Murphy, Chief Executive, ExCeL London
“London City Airport is important in helping make our merged KPMG Europe operate efficiently. It enables colleagues from our offices across Europe to do a full day’s work at our Canary Wharf European HQ before returning home the same day. This would be very difficult if we had to rely only on the other London airports. City Airport enables our European firm to provide the very best client service.” Dr Ashley Steel, Senior Partner, Global Transport and Infrastructure, KPMG
“London City Airport is hugely important to us and is used on a daily basis by our staff, visitors and delegates.” Sara Mendosa, Head of Sector Infrastructure Services, European Medicines Agency
“The European destinations offered by London City Airport are a fundamental part of the proposition” Paul Bromelow, Global Sales Director, Think London
“East London cannot fulfil its economic potential without the Airport – the Airport is pivotal to London’s move eastwards” John Williams, Chief Executive, Gateway to London
1. London City Airport is the UK's leading business airport serving over 30 destinations across the UK, Europe and the USA and connections to the rest of the world through major European hubs. The Airport now in its 23rd year of operation is expecting passenger throughput to approach 3 million in 2010.
2. An executive summary of the York Aviation study is available on request. The full technical report will be published early in 2011.
3. York Aviation was established in 2002 and is one of the UK’s leading independent specialist air transport consultancies and the market leader in airport economic impact assessments. In recent years it has provided advice on the economic importance of airports including Heathrow, Amsterdam Schiphol, Manchester, Birmingham, Edinburgh, Glasgow and Stockholm Arlanda. The company also produced the highly influential report The Social and Economic Impact of Airports in Europe for ACI Europe.
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