Ministers have given the go-ahead for a £344m expansion of London City airport. A consortium of investors led by the Ontario Teachers’ pension fund and Borealis bought London City airport for about £2bn in February. The project will create about 1,600 new jobs at the airport and another 500 during the construction phase, according to London City. The chancellor, Philip Hammond, the transport secretary, Chris Grayling, and the communities secretary, Sajid Javid, gave the formal green light to the plan. The airport, which is close to Canary Wharf in east London, currently serves about 4 million passengers a year.

Source: The Guardian July 27, 2016 12:48 UTC