Builders Wates Construction handed over a new £2.5m Oxfordjet building to the management of Oxford Airport, watched by invited guests, including private aircraft owners and operators of business charter jets.

Airport managing director Steve Jones said: "The Oxfordjet facility really puts us on the map as a serious business aviation airport and a viable alternative to other London-centric, costly and slot-restricted airports. This represents an initial £2.5m investment, with further investment pledged."

He said the new terminal had already conjured up five new jobs and that 20 more were in the pipeline in the next six months for administrative and operative staff.

He said: "The new investment means that £15m has now been spent at the airport in the past year, showing great committment on behalf of the airport's owners." Oxford Airport was last summer bought by Swiss-based property developers David and Simon Reuben, with finance house Dawnay Day, from BBA in a £40m deal.

Stephen Rogers, of interior design company Strategic Fusion, which commissioned the airport's designers, said: "We wanted to support the airport in its development as one of the UK's growing and pre-eminent business aviation centres."

He added: "The interior design provides an oasis of calm within the dynamic and lively world of aviation. We've utilised organic colours, smoked-oak finishes and natural stone.

"The soft furnishings make use of black, brown and tonal greys, offset with chrome touches. Carpets and rugs fit within the scheme and we've added some accent colours to provid0e interest."

The new terminal overlooks the main business aircraft apron and has separate lounges for VIPs and VVIPS assuring maximum privacy, along with shower rooms, bar and meeting rooms, and customs and immigration facilities.