London City Airport 'Should Shut as it Makes No Economic Sense' says Think Tank
London City Airport 'Should Shut as it Makes No Economic Sense' says Think TankReuters

The New Economics Foundation (NEF) has urged authorities to shut London City Airport as it makes 'no economic, environmental or social sense.'

According to the think tank's latest report, London City airport accounts for just 2.4% of London's total flight demand and caters for only the relatively well-off, as the average annual income of its passengers is £92,000 (€111,000, $154,000).

Around 40% of Londoners earn less than £20,000.

"Set in a prime location, London City Airport contributes to London's poor air quality, carbon emissions and community blight in surrounding Newham (already one of London's most deprived boroughs), and causes noise pollution across much of east and south-east London," said the report.

"Generating relatively few jobs for locals, its benefits are felt almost exclusively by wealthy business people travelling to and from Canary Wharf and the City of London."

To highlight how London City Airport is does not necessarily deliver much bang for its buck, Nef pointed out that it only contributed £110m to the UK economy in 2013, compared with the £513m brought in by the ExCel exhibition and conference centre nearby.

"The move that would put some 2,000 people out of work immediately (and prevent the creation of 1,500 jobs by 2023), remove £750m a year from the British economy, and have a long-term negative impact on the revitalisation and regeneration of east London," said London City Airport in response to the report.

London City Airport is the UK's 15th largest of its kind and carried 3.3 million people last year.