MANCHESTER, England – As London Luton Airport passes its 13 million passenger milestone, it’s an exciting time for anyone interested in investing in the fastest growing UK airport.
Over 1.1 million people flew through London Luton Airport in April representing a 17% increase in passenger numbers compared with the same month last year. The latest record month means London Luton has catered to over 13 million passengers in the past 12 months, the first time ever that the airport has passed that milestone. April also marked 25 consecutive months of passenger growth at the airport, and London Luton is now the fifth busiest airport in the UK.
London Luton Airport has announced a £110million programme to transform the airport. Contractors are already on site redeveloping the terminal building to increase annual capacity from 12 million to 18 million passengers by 2020.
Improved transport access to the airport is on the way too, with a major upgrade to J10a of the M1 planned to make it easier for the majority of air passengers who choose to travel to the airport by car.
Earlier this month plans were announced to build a £260million mass passenger transit (MPT) link at London Luton to connect the rail station with the terminal. This link will replace the existing shuttle bus and cut journey times from St Pancras Station to around 22 minutes, bringing the airport closer to central London than both Gatwick and Stansted airports.
London Luton Airport, which is a base for airlines Easyjet, Monarch, Thomson and Ryanair, now has flights to 174 destinations worldwide. As other airlines announce new routes, passengers at London Luton Airport are benefitting from more frequent flights to a wider variety of European and Transatlantic destinations from the airport’s three terminals.
Direct Airport Parking Investment, a Cheshire-based company that offers investment opportunities in off-airport car parking, is keeping a close eye on the exciting growth at London Luton.
Raj Shah, Senior Consultant at Direct Airport Parking Investment, said:
“The transformation of London Luton is underway, with the airport’s £110 million investment programme set to drive passenger numbers up to around 18 million in the next four years.
“This investment, coupled with new routes being added by a number of airlines including Spanish airline Air Nostrum, make London Luton Airport a very attractive investment option for private investors, and we’re feeling very positive about the airport’s future.”