London's City Airport should close and its site be redeveloped to create jobs, boost local business and build new homes, a think tank has said.
The airport accounts for just 2.4% of London's total flight demand, the report from the New Economics Foundation (NEF) said.
Its passengers could use Heathrow, Gatwick or Stansted, NEF claimed.
A London City Airport spokeswoman said the airport "facilitates inward investment and economic growth".
'Gives very little'
The report by NEF claimed: "City Airport creates little value - despite occupying 500,000 square metres at the heart of London, its direct contribution to the UK economy in 2011 was £110m - less than a fifth of the nearby ExCeL Exhibition and Conference Centre."
NEF economist Helen Kersley said: "Given our current dire shortage of homes, as well as the UK's international commitments to cutting its carbon emissions, we must seriously question the logic of locating an airport on precious inner city land.
"London City Airport places a significant environmental and social burden on neighbouring communities and gives back very little in return."
A London City Airport spokeswoman said: "The only airport in London provides a direct route to the capital's business, financial and political centres, facilitating inward investment and economic growth."
She added closing the airport would put 2,000 people out of work, prevent the creation of a further 1,500 jobs by 2023 and remove £750m a year from the economy.
Daren Johnson, Chair of the GLA is a supporter of this report. He posted today saying City Airport Should Close. Ken Livingston worked on a plan to close the airport post Cross Rail completion. Darren also posted a link on Twitter to a post on the GLA website showing a question he put to Ken back in 2007.
Question byDarren Johnson
The Mayor has previously told the Assembly that London City Airport should be returned to non-airport use after Crossrail is built. Is the LDA actually doing some detailed work now, looking at a post-airport scenario for the land?
Answer by Manny Lewis, LDA
Yes, we are. We are doing that in a tripartite way. We are doing that with Design for London where there has been some initial masterplanning and initial visioning, about how, if the City Airport situation did change, you might Masterplan a new community there. We are also doing that work with Transport for London (TfL), in terms of their overall overarching view on airport strategy, and that is progressing.