I made my first visit recently to Wigmore Park, formerly the Council Tip. There is a large parcel of land adjoining the airport boundary, which is somewhat undulating, but undeveloped, that could be added to the Airport estate. It is evidently under the ownership of Luton Borough Council, and is currently not productive.
Surely granting that to the concession holder, and extending their concession could see significant development potential being realised. What the Airport most needs for passenger growth is additional parking stands, plus bolt-on added terminal capacity as required (piers and/or satellites). These could be accommodated by considered development of this land.
In view of the news about Stansted being sold, and having to stand alone, adding capacity like this would position Luton very well to compete with the Essex field for passenger growth when the economy recovers. It could also be done at a fraction of the cost of BAA's plans for STN.