US investment firm Global Infrastructure Partners has put London City Airport up for sale, hoping it will fetch around £2billion. Bankers have yet to be appointed although the sales process is due to pick up pace in September.

Michael McGhee, GIP’s director of transport, said the market demand for quality airports was very high.

London’s City global airport is supposedly offered by the American hold within the package that may be definitely worth £2bn.

London City airport has seen traffic numbers soar over the past year.

With a majority stake in the fast-growing airport, GIP has already hired advisers to work on the deal, according to the Financial Times. It also has a private jet centre, where passengers can pass through the building in just a few minutes. However, its short single runway limits the type of aircraft that can use the airport and therefore – apart from a flight to New York JFK – it serves mainly European destinations.

Last year regional airline Flybe launched a route from George Best Belfast City to London City – and in response to demand, added another daily flight after three months. London City Airport’s passenger numbers have doubled over the past decade from two million in 2005 to an estimated 4.1 million in 2015.

However, it should be noted that the planning application to expand the airport – now blocked by the Mayor of London – could hamper any future plans to develop the business. The airport has appealed against Johnson’s decision and a ruling is expected next year.

The airport already has permission to increase its operation to 120,000 noise factored movements per annum (currently just over 75,000), which it says it intends to do by 2023.