The project would see two developments focussed on the airport itself and its infrastructure and a joint venture to build a business park nearby.
The latter would comprise a technology office park and manufacturing and distribution investment opportunities totalling more than 200 acres.
The 65-acre office park would have a new junction from the A45 designed to cure traffic problems at the Tollbar island.
Improvements would also be made to passenger terminal and cargo facilities alongside a new, on-site hotel, restaurant, car parking, hangers and new access road.
Sir Peter said the proposed development would also re-establish passenger flights which would be a major boost to the local economy.
“Since we bought Coventry Airport, our management has been very much community focused and, as always, we are looking to work with the community we serve and bring jobs to the area,” he said.
“Our plans to improve the airport’s infrastructure and facilities will benefit the entire West Midlands because we want Coventry Airport to act as an economic catalyst for job creation and income generation.
“As soon as is practicable, we aim to re-establish passenger airlines which will reduce travel time for business and leisure travellers and, crucially at this time, our proposals will lead to the creation of up to 10,000 jobs directly and indirectly.
“We would have the immediate capacity to serve one million passengers a year by re-starting airline operations.”
He added that the work would be worth £177.9m in gross value added to the economy.
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