Despite a challenging operational environment, London Gatwick has reported a strong demand for travel continued in the first half of 2023.
Some 18.5 million passengers travelled through the airport in the first six months of 2023, up 41% compared to the same period in 2022. However, traffic was heavily impacted by COVID-19 travel restrictions, particularly in Q1 2022.
London Gatwick booked £423.3 million revenue, up 45% compared to 2022. This figure includes £212.7 million aeronautical income and £210.6 million from non-aeronautical sources, such as retail and parking.
The airport’s operating costs (excluding depreciation, amortisation and exceptional costs) were £187.6 million for the period, up 31% on 2022. EBITDA was up 59% year on year to £235.7m, with net profit for the period at £79.1 million, up 56%.
While air traffic movements at London Gatwick remain below pre-pandemic levels at 86% for the period, a greater number of air traffic control restrictions than normal, across large parts of Europe affected on time performance, confirmed the airport, which added that restrictions are put in place to manage and smooth out the flow of congested air traffic.
London Gatwick says it is working with airlines and ground handlers to ensure aircraft are ready to go for the first wave of departures early in the morning and throughout the rest of the day. The airport confirmed its also took “proactive action to prevent ground handling industrial action this summer, ensuring flights could continue as normal”.
London Gatwick has published a six-year Capital Investment Programme setting out improvements to develop and enhance airport infrastructure and facilities, while also meeting the airport’s sustainability goals. The programme has been consulted on and agreed with airlines, and includes:
- Investing over £250 million to meet the commitment to become a net zero airport by 2030 (for Scope 1 and 2 emissions), including replacing over 100 gas boilers
- A £120 million-plus extension to the existing Pier 6 in the North Terminal to provide eight new pier-served aircraft stands
- A £70 million programme to rehabilitate airport taxiways, with airfield resilience improved further with a new Rapid Exit Taxiway, reducing runway occupancy and aircraft taxi times
- A new £44.2 million, 3,250 space new multi storey car park in the North Terminal, due to open in Autumn 2024
- A £10-million pound plus redevelopment of the North Terminal departure lounge due to complete in 2024
London Gatwick’s planning application (known as a Development Consent Order (DCO)) to bring its existing Northern Runway into routine use was accepted for detailed examination by the Planning Inspectorate on 3 August and the airport says it will now be scrutinised in detail by a panel of independent inspectors. “A successful application would bring both resilience and additional capacity, while also generating around 14,000 new jobs and £1 billion for the region’s economy every year”, it said.
“We worked closely with our partners to make sure the airport was well resourced ahead of the summer. This and the hard work of our frontline colleagues helped us provide passengers with a good level of service, despite a challenging operational environment across much of Europe,” said Stewart Wingate, Chief Executive Officer, London Gatwick. “We will continue working closely with our airport partners to improve punctuality, supported by projects in our new Capital Investment Programme to build airport resilience and long-term sustainable growth. In this respect, I’m pleased that our planning application to bring our existing Northern Runway into routine use has moved forward to the examination stage.
“It’s also promising to see the airport’s recovery continue, as we once again provide passengers with more choice. Forty-nine airlines now fly from the airport to over 200 destinations, including 50 long haul routes.”