Sale of London City Airport Set to Boost Business Tourism for ExCeL London

The sale of London City Airport to a US-led consortium will increase the volume of business travelers to London’s eastside, and directly impact on ExCeL London’s profile in International markets according to the venue’s CEO, Jamie Buchan.

The Docklands airport was put up for sale earlier this year by Irish owner Dermot Desmond and an agreement has been signed with a consortium comprising AIG Financial Products Corp and Global Infrastructure Partners.

Although the value of the transaction has not been disclosed it is estimated that the sale is worth around £750 million. This is reflective of the confidence in the airport’s development potential to boost passenger numbers to three and half million by 2015 and eight million by 2030.