The third terminal, planned to be located to the north of the current domestic terminal, would deal with both domestic and international passenger traffic.

Airport bosses are aiming to have the new terminal in place before the 2032 Olympic and Paralympic Games, but the main objective is to cater for projected growth after that time.

More than AUD5 billion (£2.8 billion/$3.5 billion/€3.3 billion) is being spent over the next 10 years on parking, upgrades to the two existing terminals, a regional aeromedical hub and expansion of shopping at the airport.

The new terminal would be an additional investment and will be designed to reduce the time aircraft take to taxi from the runway to the gate and for passengers connecting to other flights.

Brisbane Airport Corporation chief executive Gert-Jan de Graaff claimed a new terminal was needed.

"The design is not a done deal, but it is highly likely to be between the two runways to minimise taxiing time," he told The Courier Mail.

"The Airport has changed a lot since we opened our second runway.

"It's highly likely that the new terminal will be between the two runways and not too far off the domestic terminal, so that people who have connecting flights have an easy connection at Brisbane Airport."

In the last pre-COVID year, 2019, some 24 million passengers transited through Brisbane Airport, but it estimates that there will be 50 million going through the airport by 2040 and 60 million by 2050.

Over the same period, the number of people working at the airport is expected to reach 50,000 by 2050, more than double the 24,000 working there now.

Connectivity issues are also expected to be part of any future upgrades.

During peak times there is a train leaving the airport every 15 minutes but the rest of the time it is every 30 minutes, compared with Sydney where there is a train leaving the railway station under the airport terminal every seven minutes.

De Graaff warned the airport, which has also announced it will be powered by 100 per cent renewable energy by 2025, was very well serviced at the moment by the road network, but this would not be sufficient to cope with projected future growth.

"It's very obvious to me that if we want to deliver on that forecast growth, the only way to do that is through better connectivity between the airport and South East Queensland, particularly the Brisbane CBD (Central Business District), the Gold Coast and the Sunshine Coast," he told The Courier Mail.

"I cannot build car parks to the end of time; we just don’t have the space for it.

"So, it's really essential that we develop mass-transport solutions that are fit for purpose and are meeting the experiences that people can expect when they come to Brisbane."