London Gatwick Airport has disclosed a robust financial performance for the year 2023. This was driven by a strategic approach to balancing operational costs while focusing on the recovery of passenger traffic.

Contents

Increase in Passenger Traffic Revenue Growth Expansion of Airlines and Destinations Management of Disruption Investments in Sustainable Growth Northern Runway Development Conclusion

The airport’s efforts resulted in significant growth across various key metrics, reflecting a promising trajectory for the future.

Increase in Passenger Traffic

The year 2023 witnessed a notable increase in passenger traffic at London Gatwick Airport, marking a significant milestone in its recovery journey post-pandemic.

Despite ongoing challenges, the airport saw a surge in passenger numbers, reaching 94% of 2019 levels during peak months such as July and October.

This resurgence can be attributed to several factors, including the introduction of new airlines and services to emerging destinations, particularly at the onset of the busy summer season.

Revenue Growth

London Gatwick Airport reported a substantial increase in revenue for the fiscal year 2023, totaling £1,015.1 million, representing a significant rise of 30.7% compared to the previous year.

This growth was primarily driven by the continued recovery in passenger numbers, with aeronautical income, retail income, and car parking income contributing significantly to the overall revenue stream.

Expansion of Airlines and Destinations

The airport witnessed a notable expansion of its network, offering passengers a wide array of choices with 56 airlines flying to 220 destinations.

Notably, the introduction of new long-haul airlines such as Air India, Delta, and Saudia, among others, contributed to the diversification of routes and services.

Furthermore, the summer of 2023 saw an increase in long-haul services, particularly to Asian destinations, showcasing the airport’s commitment to catering to diverse travel preferences.

Render of new Gatwick Airport North Terminal interior. — Image Credit: Gatwick Airport

Passenger Services

London Gatwick Airport prioritized enhancing passenger experience through improved service levels and streamlined processes.

With a focus on meeting service level requirements, the airport achieved an impressive 99% success rate, supported by the diligent efforts of frontline staff.

Investments in recruitment and technology, such as the deployment of Next Generation Security screening equipment, further bolstered operational efficiency and customer satisfaction.

Management of Disruption

While the year proved largely successful, London Gatwick Airport acknowledged the occurrence of disruptions. This was particularly with its control tower operations towards the end of the 2023 summer season.

However, the airport demonstrated resilience by swiftly addressing the issue through proactive measures and collaboration with stakeholders.

Assurances were forthcoming from air traffic control provider NATS. The implementation of operational changes ensures improved reliability for passengers in the coming year.

Investments in Sustainable Growth

London Gatwick Airport remained committed to sustainable growth. It invested in infrastructure projects aimed at minimizing environmental impact and enhancing operational efficiency.

Notable projects included the redevelopment of the Gatwick train station and the introduction of a Rapid Exit Taxiway. Both projects will contribute to improved resilience and reduced emissions.

Additionally, the airport outlined a comprehensive Capital Investment Program. It has an overall focus on achieving net-zero emissions by 2030, aligning with global climate goals.

Sustainability Initiatives

In alignment with its sustainability objectives, London Gatwick Airport achieved significant milestones, including Level 4+ accreditation under the Airport Carbon Accreditation scheme.

Moreover, the airport intensified its efforts to reduce Scope 3 greenhouse gas emissions and explore innovative solutions.

These include hydrogen ecosystems and Sustainable Aviation Fuels, aiming to drive long-term environmental stewardship within the aviation industry.

Aerial view of London Gatwick Airport runway. — Photo Credit: London Gatwick Airport

Northern Runway Development

The airport has ambitious plans to bring its existing Northern Runway into routine use. This initiative will meet future demands while adhering to sustainability principles.

The ongoing scrutiny of the planning application was carried out by independent inspectors. This signifies a crucial step towards enhancing capacity and generating economic benefits for the region.

Conclusion

Stewart Wingate, Chief Executive Officer of London Gatwick Airport, expressed gratitude towards the dedicated airport workforce. He emphasized the collective efforts with stakeholders leading to the result.

As ever, I want to thank every single colleague at London Gatwick for their hard work and contribution to our strong performance in 2023.”

“The airport’s ongoing recovery was boosted by collaborative work with our airlines and partners. I’m proud that we continue to offer passengers a fantastic choice of airline and destination, whether flying short or long-haul.

Looking ahead, Wingate reaffirmed the airport’s commitment to enhancing passenger experience. The airport will continue pursuing sustainable growth initiatives, and advocating for responsible aviation practices.

The full copy of London Gatwick’s 2023 Report can be viewed here.