The continued collaboration with partners and the hard work of front-line colleagues have 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 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.”
Traffic continues to grow
Peak holiday times are continuing to attract more people to travel, representing a 90% recovery on 2019 levels. 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
Longer term, the examination phase for London Gatwick’s planning application (Development Consent Order) to bring its existing Northern Runway into routine ended on August 27th. If successful, the Northern Runway could be in routine use by the end of the decade. The plans are privately funded, and work is largely contained within the airport boundary. It will deliver increased resilience and capacity for passengers, in line with the Department for Transport's policy, while generating around 14,000 new jobs and £1 billion for the economy every year.
The airport recently announced the London Gatwick Hydrogen Hub - a partnership with Airbus, easyJet and Air Products - as a significant 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 passenger experience
Passengers have enjoyed a reliable airport experience so far this summer, with operational performance meeting 100% of the 276 agreed service measures. This includes 96.6% of passengers passing through security in five minutes or fewer, and working in partnership with our special assistance provider Wilson James, meeting all requirements to help passengers needing assistance. Continued collaboration with air traffic control provider, NATS, has ensured the tower is operating well and has the required resources to deliver this year’s busy summer schedule for airlines and passengers.
Our food and beverage offering continues to expand and now includes Pizza Express, Big Smoke and Black Sheep Coffee. Building on the airport’s commitment to provide a more efficient experience, passengers are benefiting from a more spacious redeveloped train station for the first time this summer.
Service and airline commitments
The CAA launched a consultation with airlines earlier this month, on London Gatwick’s proposal to extend the Commitments Framework until March 31st 2029. With a decision expected to be reached by the end of 2024, the extension will deliver significant benefits to passengers and airlines while encouraging long term investment in sustainable growth, all under a lower price ceiling.
London Gatwick launches Air India service to Bangalore
Passengers and businesses across London and the South East can now access a new Indian destination this summer from London Gatwick, with the launch of Air India's direct service to Bengaluru (Bangalore).
This new route, which will operate five times weekly from the South Terminal, is London Gatwick’s fifth non-stop connection to India, joining existing services to Goa, Kochi, Ahmedabad, and Amritsar.
These Air India flights, alongside TUI’s service to Goa, means there are now 19 flights per week between London Gatwick and India.
London Gatwick is actively working to double connectivity with India over the next five years, recognising the strong economic and cultural links between the countries. Key priority destinations for future growth include Delhi and Mumbai.
Stephanie Wear, VP Aviation Development, London Gatwick said: “This new service to Bengaluru is excellent news for both passengers and businesses across London and the South East. This city’s dynamic tech industry and cultural significance makes it a fantastic addition to our route network. It’s set to be a popular service, providing fantastic opportunities for both tourism and trade.”
London Gatwick is investing in its long-term future, and its planning application to bring the airport’s existing Northern Runway into routine use is nearing the end of the Planning Inspectorate’s examination phase. This low-impact plan will improve resilience, reduce delays, and provide a significant boost to the national and regional economy by supporting trade, tourism, and new jobs.
London Gatwick launches detailed accessibility guides For passengers
London Gatwick has partnered with AccessAble to launch a series of bespoke Detailed Access Guides, helping passengers navigate more easily, safely and confidently through the airport.
The free guides cover 30 different areas of London Gatwick - including departures and arrivals, car parks and the train station – and provide passengers with information such as flooring types, signage, light and noise levels, step-free access, walking distances, seating, and accessible toilets, alongside a host of other details.
Including facts, figures, and photographs, the guides have been checked on site by trained surveyors from AccessAble – a world leader in the provision of accessibility information.
Anna-Ruth Cockerham, Accessibility Manager, London Gatwick said: “September and October are typically our busiest months for welcoming passengers who require some extra assistance, so we are delighted to launch our new Detailed Access Guides to help make those journeys through the airport easier.
“We know everyone’s accessibility needs are different, which is why having detailed, accurate information is so important. These guides will help London Gatwick achieve its vision to be the airport for everyone, whatever your journey.”
Dr Gregory Burke, Founder and Executive Chair, AccessAble said: “We are delighted to work in partnership with London Gatwick to launch Detailed Access Guides at the airport. This crucial information will enhance the experience of the hundreds of thousands of passengers requiring assistance who travel through Gatwick each year. The AccessAble website offers the opportunity to create real change in the way that disabled people travel, and we hope this exciting programme with London Gatwick, one of the most important transport hubs in the UK, represents a significant moment on this journey.”
London Gatwick’s Accessibility Guide can be viewed at https://www.accessable.co.uk/london-gatwick, and feature digital accessibility tools and an easy read option.
