London Stansted unveils £1.1 billion investment programme

The plans were first announced at the UK government’s International Investment Summit on Monday and follow London Stansted reporting record-breaking passenger numbers for each month in 2024.

The centrepiece of the plans is a £600 million extension to the airport’s existing terminal, which will create a more spacious environment, with additional seating areas plus new shops, bars and restaurants. There will be a larger security hall with more security lanes equipped with next-generation scanners. The extension will also provide more state-of-the-art check-in desks and increased baggage capacity.

The terminal development will help enable the airport serve up to 43 million passengers a year, which in turn will create up to 5,000 new on-site jobs and see the airport’s economic contribution double to £2 billion annually.

Stansted served a record-breaking 29.3 million passengers in the year to September 2024, the busiest 12-month period in the airport’s history, and as it now enters a new phase of growth, the extended terminal will improve capacity at busy times and provide the extra space required to accommodate forecast growth. 

Over the past 12 months, several new airlines have started flying from Stansted for the first time, including Royal Jordanian and SunExpress, while British Airways has returned to the airport, increasing the number of destinations on the departure board to more than 200 this summer.

Jackie Sadek, Independent Chair of the UK Innovation Corridor, said: “This is to be welcomed with open arms. London Stansted provides vital underpinning for the current £189 billion per annum GVA [gross value added] of the UK Innovation Corridor, and this new investment will be crucial for our shared mission to double the size of our economy by 2040.”

Harriet Fear, Chair of Cambridge Ahead, said: “International connectivity is vitally important for organisations based in the innovative sectors that are so strong in the east of England, making London Stansted key to the success of the region and beyond.”

The Consumer Choice Center recently released its fourth annual edition of the European Airport Index, highlighting the recovery of the airport industry.