A "NO frills" operator could put Teesside Airport on track for a predicted three million passengers by 2030.
The potential is so great that there could be 800 extra jobs in the pipeline within ten years and it is being tipped as a favourite for runway expansion.
The new proposals are outlined in a Government consultation document which predicts a huge demand for air travel over the next 30 years.
Teesside is forecast to grow strongly, with traffic increasing fourfold, but with a proviso.
"If Teesside could attract a 'no frills' operator, its scheduled traffic could grow strongly and increase its share of North-East traffic.
"Otherwise the anticipated growth in the charter sector will dominate."
The airport's own predictions have been more modest, placing potential demand at about 1.8m by 2015.
Hugh Lang, managing director, said the Government estimated 1,000 jobs for every extra million passengers.
"At the moment we have 600 staff and 725,000 passengers but I believe in ten years we could have 800 extra jobs."
A changing pattern to air travel meant people were moving away from a once-a-year holiday in the sun.
"Now more people want to fly out on short breaks, several times a year."
Congestion on the roads would make business trips an easier option from the local airports and he wanted rapid access to Teesside.
"We have already doubled capacity to Schipol through KLM and if every airline decided to do that, we would be almost up to one million."
The airport was already in talks with airlines over Germany, Belgium and France. It hoped to find a strategic partner to fund expansion and the report was seen as underlining its tremendous opportunities for growth.
Stakeholder authorities have yet to decide whether to back that approach.
Coun Ken Hall, board chairman, said the report strengthened Teesside's claim to be the preferred choice as the site for a major runway extension.
He is backed by Stockton North MP, Frank Cook, who said: "It underlines the tremendous opportunities for growth, including extending its runway to the 3,000 metres needed to handle very large aircraft, especially air freighters."
Teesside could also expand to the optimum within its own land.
However, Coun Doris Jones of Middleton St George said she was sceptical in the light of previous claims that Teesside would become a world-class cargo centre.
She was also concerned about expansion of the current runway.
* Leading article: page 22
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