Business flights from Farnborough Airport, generate $2.45bn (£1.9bn) of gross value added (GVA) to the UK economy every year, according to the CBI researchers. Up to 80% of the flights from the airport supporting UK business and inward investment either directly or indirectly. It characterised flights from the airport as having a high economic impact and being “time-sensitive in nature and essential in purpose”.

Commenting on the research Louise Hellem, chief economist, CBI Economics said: “It is striking the impact that the business aviation sector has on the UK economy, in particular the economic opportunity it creates and the importance of the sector in driving UK competitiveness and growth.” 

Simon Geere, CEO, Farnborough Airport thought the research validated the airport’s long-standing contribution to both the national and local economies. “These latest findings from CBI Economics support what we have been saying for some time, that the role of business aviation in driving inward investment and creating economic opportunity within the UK is both significant and demonstrable,” he said.

It’s not just the national economy, which benefits from the business airport. Local employment opportunities generated by the facility, about 50 miles south west of London, were said to total the equivalent of 23,000 full-time employee (FTE) jobs. Geere also makes a claim for the airport’s environmental sustainability. “With Farnborough Airport serving smaller-lighter aircraft, our environmental footprint is a fraction of that of a traditional commercial passenger airport, yet our economic output relative to our size is completely unsurpassed,” he said. 

These will prove handy arguments for the airfield, following its planning application last year to Rushmoor Borough Council to increase annual flights from 50,000 to 70,000. Growth, which it argues, will further benefit both the national and local environment – despite some local opposition to the expansion.

Meanwhile, back at the airshow, this year’s numbers showed significant growth compared with the previous event in 2022. The show last month attracted 33% more visitors (numbering over 100,000) and recorded a 57% increase on delegation attendance and more than $105.8bn in commercial deals announced during the five days. Events in Geneva (EBACE 2024) and Las Vegas (NBAA Business Aviation Convention & Exhibition – NBAA-BACE) must generate similar benefits. 

Sadly, sales of gold braid are not recorded at any of these events. 

Farnborough features military gold braid at its airshow and a golden contribution from business aviation year round. (Image courtesy of Wyedean).

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The study revealed about 80% of flights from Farnborough Airport were related either directly or indirectly to supporting UK business and inward investment. Flights  from the airport are mainly of “high economic impact, time-sensitive in nature and essential in purpose” it concluded. The economic value created by the airport was also said to generate the equivalent of 23,000 full-time employee (FTE) jobs.

The research evidences the value of business aviation to the UK economy and in particular the role of Farnborough Airport in supporting growth and investment, said Louise Hellem, chief economist, CBI Economics. “It is striking the impact that the business aviation sector has on the UK economy, in particular the economic opportunity it creates and the importance of the sector in driving UK competitiveness and growth,” she said.

Simon Geere, CEO, Farnborough Airport added: “These latest findings from CBI Economics support what we have been saying for some time, that the role of business aviation in driving inward investment and creating economic opportunity within the UK is both significant and demonstrable.”

The airport has a critical role to play in supporting economic growth – both at a local level and also across the wider UK, he said. “With Farnborough Airport serving smaller-lighter aircraft, our environmental footprint is a fraction of that of a traditional commercial passenger airport, yet our economic output relative to our size is completely unsurpassed.” 

The research also quantifies the value to the UK of the proposed increase in flights at Farnborough Airport from 50,000 to 70,000 per year, with an additional £1.4bn of GVA being generated within the UK economy every year. More flights would also create an extra 17,900 FTE jobs, claimed the researchers.

The latest research follows an economic assessment last year undertaken by York Aviation, which was submitted last year to Rushmoor Borough Council as part of the airport’s planning application to increase its annual flights from 50,000 to 70,000. This claimed the localised economic impact of Farnborough Airport supported 2,600 jobs and injected £170m of GVA into the local economy each year. This contributed, it was said, to making Rushmoor one of the fastest growing Local Authorities in the UK, according to data published by the Office for National Statistics (ONS).

The CBI Economics report is entitled ‘Getting Business Going – The economic benefits to UK plc of business aviation at Farnborough Airport’.

Farnborough Airport was said to create the equivalent of 23,000 full-time employee jobs.

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Europe’s leading private aviation airport, Farnborough Airport announced completion of the largest ever air-side advertisement. Farnborough Airport’s two-sided radar tower advertising wrap consists of two 10.8m wide and 15.3m high graphic panels, which when combined, surpasses the previously largest Dubai International Airport’s advertising site of 28m x 6.2m and Fort Dunlop’s iconic Cometh the Hour advert measuring 25m x 20m.

As part of the partnership the award-winning terminals have been blanketed in Edmiston red and a new designed lounge, The Edmiston Lounge, offers clients a space to relax before and after flying. At The Edmiston Lounge, guests can experience a fully bespoke design, filled with rich fabrics and furniture paired with Edmiston photography, a travel library, works of art, and yacht models.

Simon Geere, CEO of Farnborough Airport, says “We’re excited to launch the final part of our immersive guest experience with Edmiston, adding to our already unrivalled private travel experiences. We’re proud to say it’s the largest air-side advertisement in the world and we look forward to our clients enjoying the entire experience on their next visit to the airport.”

The new experience is part of a wider development plan at Farnborough Airport to enhance customer experiences including a £55million Hangar 3 investment, Domus III, and the introduction of SAF (Sustainable Aviation Fuel) and HVO fuel (Hydrotreated Vegetable Oil) to reduce both flying and onsite emissions.

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The new four-bay hangar, covering 175,000sq ft (16.25sq m), will double the temperature-controlled storage space at the airport. Contractors are expected to begin the build in June 2022 after planning was granted by Hampshire council in January. “This investment reveals the long-term commitment of airport owners Macquarie Funds to Farnborough,” said Simon Geere, CEO of Farnborough Airport.

Farnborough also revealed a partnership with Vertical Aerospace to explore launching eVTOL services from the airport. An airport spokesperson told Corporate Jet Investor: “We have entered into an agreement with Vertical Aerospace to work jointly together to better understand the requirements of eVTOL infrastructure at an airport such as Farnborough. The opportunities for eVTOL operations are part of the work that is being undertaken.” Both parties are understood to be working towards making eVTOL services operational on site by 2030.

Geere told Corporate Jet Investor: “While it may be hard to see electrification being the solution to long haul and larger aircraft, it is a possible solution to smaller aircraft and short-haul flights, which is what we have.” Short-haul flights within the UK and Europe make up 90% of operations from the airport, with long haul accounting for the remainder.

Although acknowledging the need for significant eVTOL development, Geere looked forward to the prospect of quicker connections from the airport to the City of London. “We want to build upon our pioneering legacy, we want to be seen as innovators,” he said. “So, working with Vertical is exciting for us. It’s early days and we don’t know where it is going to take us, but it is a space we definitely need to be in.”

Geere also highlighted Farnborough’s green credentials. In 2018, Farnborough became the first airport to achieve carbon neutrality. Since airport continues to work towards greater carbon offsetting through various schemes and projects such as Corsia (Carbon Offsetting and Reductions Scheme for International Aviation).  “We all have a role to play with sustainability and carbon emissions,” said Geere. “We are all aware that aviation is the highest carbon emitting form of transport, so raising awareness and framing what we need to do. The challenge is: How do we move forward for a sustainable future? Here at Farnborough, sustainability is in our DNA and always will be.”

Farnborough Airport, acquired by Macquarie in 2019, is the base for 56 aircraft. It is also home to one of NetJets’ largest operations in Europe. The airport’s clients include: managed operators accounting for 45% of business and corporate/private owners and fractional operators both accounting for 20%. Charter operators account for 15% of business.

Private Airport – Farnborough Airport UK

Vertical Aerospace – Pioneering electric aviation – Vertical Aerospace (vertical-aerospace.com)

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CEO Simon Geere said: “The introduction of SAF at Farnborough Airport is a major milestone in our sustainability programme, and we are pleased to be able to offer Neste MY Sustainable Aviation Fuel by working with our fuel provider, World Fuel Services.”

Geere said the service would play an integral part in delivering the UK government’s targets for net-zero carbon emissions by 2050.

In 2018, Farnborough Airport was the first business aviation airport to be awarded carbon neutral status by Airports Council International (ACI) Europe. It has reduced controllable emissions by 70% in the past 10 years.

The Neste MY SAF available at Farnborough Airport is produced 100% from renewable and sustainable waste and residual raw materials, such as used cooking oil and animal fat waste.

Neste is also providing SAF for group charter, and air ambulance company, Jetflite and Million Air Burbank FBO.

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