the Airfield has been there since WW2, if you don't like aircraft or the noise they make you don't buy a house near an Airfield.
Which is fine as a general principle, but the area suggested by H77 isn't currently part of the airfield, so this would be moving the airfield towards the houses. As you suggest, the best place for this sort of aviation related industrial activity might be the area identified in the masterplan and for which planning permission has been granted for these sorts of activities i.e. the south side.