News

Long-haul spurs annual growth at Gatwick

Gatwick handled an extra 1.1 million long-haul passengers as numbers rose to 46.4 million in the year to March.

The 14.3% rise in long range passengers was driven by a 45% increase in routes to Asia, including flights to Shanghai opened by China Eastern Airlines in December.

The expansion was also fuelled by Norwegian’s low cost long-haul network including a new transatlantic link to Rio de Janeiro in March.

The growth was balanced by a 7% reduction in the airport’s noise footprint, Gatwick claimed.

Revenue for the year increased by 6.1% to £810.8 million to produce a 2.9% rise in profit after tax to £208.1 million.

This came as income per passenger for the year grew by by 75p or 4.5% to £17.47.

Almost £250 million was spent in the 12 months on improving passenger facilities and operational performance as part of a five-year £1.1 billion investment to 2023.

An extension to Pier 6 to provide additional aircraft stands to meet forecast growth a new mezzanine level in the North Terminal to accommodate growing passenger demand are among the upgrades planned.

The figures come a month after French group Vinci Airports completed the purchase of a 50.01% stake in the airport with Global Infrastructure Partners continuing to manage the remaining 49.99%.

CEO Stewart Wingate said: “Today’s results underline our ambition to be a thriving global airport which continues to invest in our passengers and local communities, while strongly supporting UK plc.

“Over the last year, we have achieved strong passenger growth matched by a reduction in our local noise footprint; robust financial results matched by record levels of investment back into the airport; and growing global connections fuelling increased trade and tourism opportunities.

“These strong results give us a firm foundation for future sustainable growth and later this year we look forward to publishing our final master plan which will help set the long-term growth and development plan for Gatwick.”

Share article

View Comments

Jacobs Media is honoured to be the recipient of the 2020 Queen's Award for Enterprise.

The highest official awards for UK businesses since being established by royal warrant in 1965. Read more.