Air travel lift on horizon

MORE than 100,000 new jobs could be created at UK airports in the next decade because of the expected growth in demand for air travel, an industry official has predicted. But the new posts will only be created if extra runway capacity is built, Keith Jowett, chief executive of the Airport Operators Association, told a conference in London. The number of air passengers is set to increase from 160 million a year to 270 million by 2010. Every million extra passengers usually creates 1,000 jobs, so the expected growth could lead to 110,000 new posts.

Airports across the country were predicting big increases in employment by 2008, said Mr Jowett.

PROFITS SLIDE: BP has posted a dramatic 57 per cent slide in quarterly profits, but said there were signs of better times ahead for the business. Weaker oil and gas prices and falling demand in light of the economic climate meant profits tumbled below the lofty levels seen a year ago. Profits for the period to March 31 fell to £1.10bn from £2.59bn a year ago.

CREDIT SOARS: Consumers spent a record £9.63bn on their credit cards during March. The Bank of England said the figure was the highest since records began in 1993, and broke February's new record of £9.25bn. Overall consumer credit, which includes credit cards, loans and hire purchase agreements, but not mortgage lending, grew by £1.45bn or one per cent to a total outstanding debt of £144.16bn in March.

NEW MARKETS: European funding of £60,000 has been awarded to a project to help unlock new markets for Tees Valley firms. New Customers, New Markets is a £168,340 scheme developed by the University of Teesside to provide SMEs across the area with help to identify new market opportunities.

TV LOSS: Channel 4 has recorded its first loss for a decade following an advertising slump. The station saw advertising revenue dip by £32.3m, which contributed to a loss, after tax, of £20.6m for the Channel 4 Group last year.

DEAL AGREED: British Land has let 30,000sq ft of retail warehouse space at Teesside Retail Park in Stockton to the Comet Group plc. The project is expected to be completed in September.