Stand capacity assessment is an essential factor in airport planning and design due to the large investments associated with airport development. Fulfilling anticipated demand while still considering future growth is key in airport master planning. In this paper, a mixed-integer linear programming optimisation model is proposed, which determines the stand mix and needed operational equipment through a value-focused thinking process. The decision-maker defines a priori the optimisation objectives (what to optimise for and the factors incorporated within the optimisation), after which different cases will be explored. The framework incorporates a trade-off between operational factors, different stand types, area limitations and flight frequency through two objectives: capital cost and operational cost. A trade-off between the two objectives is made through weight factors, which results in a Pareto curve. The model is validated through a case study performed using a design day flight schedule of Amsterdam Airport Schiphol. This paper shows the implications of the trade-off between capital cost and operational cost, the drivers for flight splitting, the use of swing stands, incorporation of area limitations and the implications of incorporating the weekly frequency of flights on the stand mix. It is recommended to apply the weighted sum method and the creation of Pareto curves to create a value-focused thinking process for a decision-maker. The availability of an optimisation framework, which allows airport stakeholders and decision-makers to get insights into implications of strategic decisions on stand capacity in the form of a trade-off between objectives and optimisation factors, will benefit the airport development process.