Stansted is to build capacity to handle an extra 200 flights a day under a £1.1 billion expansion scheme unveiled by the airport today.
Through the plan, Stansted’s existing terminal will increase in size by a third, with passenger numbers rising to 43 million from 29 million.
Stansted’s proposal, which was unveiled at today’s International Investment Summit in London, would not require an additional runway to be built and would cost £600 million for a terminal upgrade and £500 million to improve other facilities.
Stansted is owned by Manchester Airports Group but qualifies as an overseas investment due to Australian group IFM's 35% stake.
No-frills carrier Ryanair Holdings PLC (LSE:RYA) uses Stansted as its main UK hub.