Gatwick Airport is still in the race for expansion despite the Airport Commission's Heathrow recommendation, the Sussex airport's Chief Executive has said.
Gatwick Airport's chief executive Stewart Wingate said:
Mr Wingate also said that "Gatwick will give the country the economic benefits it needs and at the same time impact far less people. It is quicker simpler and quieter. Above all - after decades of delay - it can actually happen."
The new runway at Heathrow could benefit the UK economy to the tune of around £147 billion, the Airports Commission has said.
The commission said a new runway would generate up to £147 billion in economic output over 60 years and create more than 70,000 jobs by 2050.
But the cost of building a new runway is estimated to be around £17.6 billion, said the commission, with billions more in transport costs.
The Airports Commission has recommended that a new runway be built at West London's Heathrow Airport, providing that a "comprehensive" package of measures be undertaken.
The measures include a ban on night flights from 11.30pm to 6am, legally binding limits on noise, a new levy to fund insulation for homes, schools and other community facilities around Heathrow, and an independent noise authority.
The Airports Commission has recommended that a new runway is built at Heathrow airport in West London.
The commission said that a new runway at Heathrow is the best option to add "urgently required routes to new markets".
It chose a new, full-length runway at Heathrow rather than expanding one of the airport's current runways or building a new one at Gatwick.
A comprehensive package of measures should be introduced, including a ban on night flights, a noise authority and a levy to fund compensation schemes, the commission also said.
The Government is not expected to take any immediate action on the report and is likely to announce that ministers will study the recommendation.
Long queues were forming outside banks in Athens this morning as elderly customers waited to access their pensions.
The finance ministry is opening around 1,000 bank branches across the country for three days beginning today to allow pensioners without bank cards to make withdrawals.
It comes after Greece missed the deadline for a 1.6bn Euro repayment to the International Monetary Fund.
Eurozone ministers refused to extend its bailout however a spokesman for the IMF said the Fund's board would consider a request from Greece for a last-minute repayment extension 'in due course'.
It will be a hot day across much of the UK, with temperatures reaching into the low thirties across inland areas of southern and eastern England, perhaps reaching 35C (95F) in the London area.
Temperatures will also reach into the high twenties and could nudge 30C (86F) across northern Scotland.
There will be an ever present risk of thundery showers across central and western areas, and perhaps a greater chance of seeing some thunderstorms across northern England and southern Scotland later.
Indonesia's president has promised a review of the country's ageing air force fleet as the death toll from the crash of a military transport plane passed 140.
The C-130B Hercules aircraft crashed into a residential area of the city of Medan on Tuesday.
"There must be an evaluation of the age of planes and defence systems," President Joko Widodo tweeted late on Tuesday, as work continued to recover bodies from the wreckage.
The plane had been on its way from an air force base in Medan, one of Indonesia's largest cities, to Tanjung Pinang in the Riau Islands off Sumatra when it crashed.
Eurostar has said it expects normal service to resume tomorrow but has warned passengers to expect trains to be "exceptionally busy".
It apologised to travellers for the disruption and said it was working through outstanding ticket changes.
Meanwhile Eurotunnel tweeted its services, which were also affected by the disruption, were now operating to schedule from the UK and from Calais.