London Gatwick reports strong start to 2024
The continued collaboration with partners and the hard work of front-line colleagues has supported London Gatwick's continued recovery and delivered a successful start to the year, the airport said when publishing its interim financial results.
2024 interim results include:
- 19.9 million passengers travelled through the airport, an increase of 7.7% compared to the same period in 2023
- Revenue at £488 million, up 15.3% compared to 2023. Includes £239 million in aeronautical income and £249 million from non-aeronautical sources, such as retail and parking
- EBITDA at £268 million, up 13.9% compared to 2023, with net profit for the period at £106 million, up 33.8%
Stewart Wingate, Chief Executive Officer, London Gatwick, said: “With the growing demand for travel, we are experiencing one of our 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.“I am delighted that we have once again achieved good service levels, as evidenced by meeting 100% of our service measures. At the same time, through our Northern Runway Project, we are demonstrating our commitment to growing sustainably, in line with our Decade of Change sustainability strategy and government policy.
“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.”
Strong financial performance as traffic continues to grow
A focus on developing new long-haul routes across the Middle East, Asia and North America is attracting a wider range of passengers and continues to build on the airport’s vision to be the airport for everyone. Recent new services include the June introduction of Singapore Airlines flights from London Gatwick plus new routes by flag carriers to key cities across China and India.
Sustainable growth
The airport recently announced the London Gatwick Hydrogen Hub - a partnership with Airbus, easyJet and Air Products - as a significant first step towards achieving zero-carbon flights. This builds on London Gatwick’s existing commitment to be net zero for Scope 1 and Scope 2 emissions by 2030 and other initiatives announced earlier in the year, such as the opening of GRIDSERVE electric vehicle charging forecourt and swapping diesel for Hydrotreated Vegetable Oil (HVO) in airport vehicles, which will save more than 950 tonnes of carbon emissions every year.
Delivering a successful summer operation and passenger experience
Service and airline commitments
NOTES
- Recent additions to London Gatwick’s long-haul network include Singapore Airlines flying five times per week to Changi Airport, Air India adding a five-times weekly service to Bengaluru, a daily Air China flight to Beijing, and China Southern's new three-times weekly service to Guangzhou. WestJet now fly to Halifax (4x weekly) and St Johns (3x weekly) in Canada.
- In terms of short-haul, London Gatwick has broadened connectivity across Europe, with new services to destinations including Gothenburg, Sweden (Norwegian), Vagar in the Faroe Islands (Atlantic Airways), Ponta Delgada in the Azores (Azores Airlines), Varna, Bulgaria (Wizz Air), and Salerno, Italy (easyJet).