Gatwick Airport profit jumps as long-haul expansion drives growth
Gatwick Airport's chief executive said the hub was experiencing its "busiest ever" summer as passenger numbers hit 19.9m.
London Gatwick Airport reported a jump in profit in the first half of the year after the hub opened a string of long-haul routes amid booming demand for flights.
The UK’s second largest airport reported earnings before interest, taxation, depreciation and amortisation (EBITDA) growth of 13.9 per cent to £106m over the first six months of 2024.
Revenue topped out at £488m, up 15.3 per cent year-on-year.
Some 19.9m passengers travelled through the Sussex hub over the period, a 7.7 per cent increase on the prior year.
Chief executive Stewart Wingate said the airport was experience one of its “busiest summers yet.”
“Thanks to robust planning and close collaboration with our partners we’ve had a strong start to 2024, ensuring a reliable and enjoyable experience for our passengers.”
“Our teams have worked incredibly hard to achieve these results. As we continue to grow our network and offer more choice for passengers, we are working towards our vision to be the airport for everyone, whatever your journey.”
Gatwick’s bumper results could quell fears about the future of the two-year travel boom following the pandemic.
Demand rebounded significantly in 2023 as holidaymakers satiated pent-up demand for travel following years of lockdown.
In the wake of such resurgent passenger traffic, the airport has pursued a move into the long-haul market to compete with its larger rival, Heathrow.
Over the last couple of years, it has opened a string of routes to countries in Asia and the Middle East. These have included agreements with India’s flag carrier, Air India, Saudia, Air Mauritius, and several major Chinese carriers.
Gatwick is also awaiting a verdict from the Planning Inspectorate over its £2.2bn proposals to introduce a second runway.
