Gatwick Airport has announced a new investment plan worth £1.15bn over the next five years, with £240m of work planned for 2017/18. The new 2017 capital Investment programme (CIP) anticipates growth in demand and is aiming for improved efficiency and record levels of passenger satisfaction, the airport says.

The CIP includes plans to reconfigure aircraft stands, the building of a new hangar in partnership with Boeing, extension of Pier 6 and the addition of a new domestic arrivals facility in Gatwick's South Terminal. The plan takes Gatwick's total investment plans, since change of ownership through to 2022, to £2.7bn.

The CIP has been developed to ensure Gatwick's growth can keep pace with rising demand, as passenger numbers go from 45 million to 50 million per year over the next five years. The airport says it's committed to improving resilience to give passengers the best possible experience using its facilities – Gatwick was voted the UK's worst airport (and second worst worldwide) in an AirHelp index earlier this year – and Gatwick maintains that its plans for building a second runway are still on the table.

Gatwick’s construction director, Raymond Melee, said: “Since coming into independent ownership, Gatwick has delivered record growth in passenger numbers and long haul services while also taking passenger satisfaction levels to an all-time high. As we plan to grow towards 50 million passengers per annum, we will focus on efficiency and service so that our passengers continue to receive the airport experience they expect, in the most sustainable manner possible.

“We will continue to develop the airport to meet the needs of our airlines and passengers with improvements to the way we operate on the airfield and the service we offer in our terminals. These projects will be delivered in a way that will help us realise our ambition to become the UK’s most sustainable airport.  

“Regarding future runway expansion, our financeable and deliverable scheme for a second runway remains on the table. We will deliver a new runway for Britain, in addition to or instead of Heathrow, should the government give us its support now or in the future.” 

This comes after Heathrow reportedly confirmed that it will cut elements of its third runway extension plans to reduce costs last week. A sixth terminal and passenger transit system is understood to have been taken out of Heathrow's plan to cut costs without increasing landing fees.