Monday, August 20, 2012

NEWS| Luton operator confirms relationship through 2031

Luton operator confirms relationship through 2031
London Luton Airport Limited (LLAL), the company that owns the airport, and London Luton Airport Operations Limited (LLAOL), the airport’s operator, have signed a contract to enable London Luton Airport to continue to be managed, operated and developed by LLAOL through to 2031.

The contract follows the signing of a head of terms commercial agreement by the two parties in June 2012 and the decision by the airport’s owner and operator to integrate LLAL’s futureLuToN:Optimisation programme with LLAOL’s plans to increase passenger capacity at London Luton Airport.
The signing of the contract between the owner and operator is to be followed by a planning application later in the autumn, which will be lodged by LLAOL and will be subject to the statutory consultation process including public consultation by the Local Planning Authority.
Any increase in capacity at the airport will take place within the existing boundary and use the existing runway.
Passenger through-put generates income in the region of £10m to Luton Borough Council that is critical for maintaining services to its community and supporting its capital programme. Current revenue provides a further £14m invested in local communities through supporting charitable organisations. Income would increase with future passenger growth.


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