The Isle of Man's only FBO, Private Jet Centre, is set for  major modernization and upgrade.

As well as updating the current building, which was opened in 2015, a new 10-bedroom boutique hotel is to be built for passengers and crew.

Megacorp Aviation have said the investment will "stimulate further economic growth for the island and attract more traffic”.

A "dedicated" team would create "an aviation technology park" at the Ronaldsway site, including a doubling the existing hangar space to 3,716 sq metres (40,000 sq ft), it added.