THOUSANDS of jobs could be created over the next decade as part of a huge expansion of the former Teesside International Airport, bosses have revealed.

The first flight to land at the newly named Durham Tees Valley Airport touched down yesterday afternoon, launching a new era in North-East aviation.

The new name and logo will head an intensive programme of redevelopment in which up to £50m could be invested in the airport in the next five years.

At a ceremony to mark the rebranding, Durham Tees Valley managing director Hugh Lang revealed the extent of the new-look airport's ambitions.

He said the airport was expecting to handle three million passengers a year by 2015.

It handles 700,000 people a year at present, but Mr Lang said that for every extra million passengers the airport grew by, up to 3,000 jobs would be created -directly and indirectly.

The positions would mainly come in areas such as passenger check-in, baggage-handling and airport services.

A planning application for the refurbishment of the main terminal -to create a 28,000sq ft, three-storey building -is expected to be submitted to Darlington Borough Council next month.

Other plans include nine additional aircraft stands, about 2,500 extra car parking spaces and a new cargo and maintenance area.

Mr Lang said that dropping the Teesside name would have great benefits for the airport and the region.

He said a city name was seen as crucial to raising the airport's profile in Europe.

He said: "One of the most damning statements from the airlines was that the Teesside brand had limited the growth of this airport over the last ten years.

"I understand the controversy about the name, and it is important that people feel strongly enough about it to debate it, but the world has moved on.

"The Teesside brand is not competitive enough for what we want to achieve.

"This is the initial stage of a five-year plan. We believe in this airport and we are prepared to take a financial risk."

Alistair Arkley, the chairman of Tees Valley Partnership, said: "A thriving and expanding airport is key to our economic regeneration.

"We need the commitment of the airlines, and they clearly see the new name as an important factor in enabling them to expand their services."

An advertising campaign to promote the name will be launched soon.

At yesterday's launch, more than 100 guests were on the last flight to leave Teesside Airport and the first to land at Durham Tees Valley.