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  Official magazine of ACI
Monday, 25 June 2012 09:50

Asian routes drive up London Gatwick profits

Written by  Steven Thompson
New routes to South Korea, Turkey, Vietnam, Hong Kong and China and investment of €25 million a month helped deliver increased passenger traffic and profits of €145 million at London Gatwick last year.

New routes to South Korea, Turkey, Vietnam, Hong Kong and China and investment of €25 million a month have helped deliver increased passenger traffic and profits of €145 million.

Announcing the UK airport’s results for the last financial year, CEO, Stewart Wingate, said €540 million would be invested in the next two years as Gatwick approaches the end of a six-year €1.5 billion programme of improvements.

Wingate added: “Despite the difficult economic conditions, we have delivered a strong financial performance on the back of growing our passenger traffic by an underlying 3%.

“Underpinning our performance is a transformation of the passenger experience and improvement in operational efficiency for our airlines and the airport.

“We have been competing with Heathrow, Stansted and Luton and other European airports, and this has seen us achieve passenger growth every single month over the course of the year.

“We have been winning new connections to high-growth economies including South Korea, Turkey, Vietnam, Hong Kong and China.

“The key to continuing this success will be greater flexibility to compete, which in turn will allow us to continue to innovate to meet the expectations of our passengers and drive further connectivity to key growth markets.”

Turnover was up 8.6% to €644 million with earnings before income tax, depreciation and amortisation (EBITDA) up 16.9% to €275 million.

The airport said new long haul carriers to Asian markets were contributing to London’s connectivity to the Far East, while Gatwick has continued to see an increase in short haul markets into Europe.

gatwickresults 

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