London Gatwick Airport has announced a successful start to the year, with strong financial performance and continued growth in passenger numbers. The airport is buzzing with activity, especially during peak holiday periods, and has seen a significant increase in both revenue and passenger traffic compared to the same time last year.
A Record-Breaking Summer
19.9 million passengers passed through the airport during the first half of 2024, representing a 7.7% increase compared to the same period in 2023. This surge in travelers has boosted revenue to £488 million, a 15.3% increase year-on-year. The airport’s revenue comes from both aeronautical sources (like landing fees) and non-aeronautical sources (like retail and parking), showcasing its diversified income streams. This robust performance has translated into a £268 million EBITDA, a 13.9% increase, and a net profit of £106 million, representing a remarkable 33.8% increase compared to the previous year.
Stewart Wingate, London Gatwick’s Chief Executive Officer, attributed the positive results to robust planning and close collaboration with partners. He highlighted the airport’s dedication to delivering a reliable and enjoyable experience for passengers, emphasizing their commitment to achieving 100% of their service measures.
A Sustainable Future
The airport’s success extends beyond financial figures. London Gatwick is committed to sustainable growth, evident in their Decade of Change sustainability strategy.
Their Northern Runway Project, aiming to bring the existing Northern Runway into routine use by the end of the decade, is a testament to their commitment to growth while prioritizing the environment. This project, privately funded and largely confined within the airport boundaries, will increase resilience and capacity for passengers while creating 14,000 new jobs and generating £1 billion for the local economy every year.
London Gatwick is also leading the charge towards zero-carbon flights through their London Gatwick Hydrogen Hub, a partnership with industry giants like Airbus, easyJet, and Air Products. This initiative complements their commitment to achieve net zero emissions for Scope 1 and Scope 2 emissions by 2030, further solidified by the introduction of electric vehicle charging forecourts and the switch from diesel to Hydrotreated Vegetable Oil (HVO) in airport vehicles, resulting in an annual reduction of more than 950 tonnes of carbon emissions.
Passenger-First Approach
London Gatwick is committed to providing a smooth and enjoyable experience for travelers. This summer, the airport has delivered exceptional operational performance, exceeding 100% of the 276 agreed service measures. This includes 96.6% of passengers passing through security within five minutes and meeting all requirements to provide assistance to passengers needing special support. Their collaboration with NATS, the air traffic control provider, has ensured the efficient operation of the tower and the smooth flow of flights throughout the busy summer season.
London Gatwick is also enhancing the passenger experience by expanding its food and beverage offerings, adding popular names like Pizza Express, Big Smoke, and Black Sheep Coffee. Passengers are also benefiting from a redeveloped train station, offering a more spacious and comfortable travel experience.
A Focus on Connectivity
London Gatwick continues to strengthen its airline network, attracting both long-haul and short-haul carriers. The airport has welcomed new long-haul routes to destinations like Changi Airport in Singapore, Bengaluru in India, Beijing in China, Guangzhou in China, Halifax and St. Johns in Canada. These routes, operated by airlines like Singapore Airlines, Air India, Air China, China Southern, and WestJet, cater to a diverse range of travelers, solidifying London Gatwick’s position as the airport for everyone.
The airport has also seen an expansion in short-haul connections across Europe, with new destinations like Gothenburg in Sweden, Vagar in the Faroe Islands, Ponta Delgada in the Azores, Varna in Bulgaria, and Salerno in Italy. These routes, operated by airlines like Norwegian, Atlantic Airways, Azores Airlines, Wizz Air, and easyJet, highlight London Gatwick’s commitment to offering extensive connectivity to destinations across the continent.
A Commitment to Growth and Collaboration
The Civil Aviation Authority (CAA) is currently reviewing London Gatwick’s proposal to extend the Commitments Framework until 31 March 2029. This extension, if approved, will deliver significant benefits for passengers and airlines, while encouraging long-term investment in sustainable growth under a lower price ceiling.
This commitment to collaboration with airlines and the CAA underlines London Gatwick’s dedication to creating a thriving and sustainable future for the airport and the region. London Gatwick continues to soar to new heights, delivering a compelling blend of strong financial performance, a commitment to sustainability, and a passenger-first approach.
