About 250 new jobs should be created at East Midlands Airport following an announcement the airline Jet2 will have a base there from next spring.
The extra carrier means about 130,000 more passengers each year will be able to fly to destinations including Turkey and Egypt.
Jet2 will initially base one aircraft at the airport, making nine flights each week to seven destinations.
Airport officials said the 10-year deal was a major coup.
Jet2 will start with a Boeing 757, with further investment and growth planned over the next three years.
Eighty of the new jobs will be based at the airport, with the rest spread across the region.
The airport's managing director Penny Coates said: "We have been talking to Jet2 for some time about a base here.
"They have got some great destinations and are a good brand.
"This news is a positive indicator for the future and puts East Midlands Airport in a strong position as we continue to extend and develop our route network."