London Gatwick Airport has announced a stellar 2024, marked by record passenger numbers and impressive financial results.
The airport welcomed 43.2 million passengers, a 5.7% increase from the previous year. The result signals a robust recovery and continued growth.
This success is largely attributed to an expanded network, with a record 57 airlines now operating from Gatwick. The wide spread of carriers offers travelers an unparalleled choice of destinations.
Financial Performance Highlights
The airport’s financial performance mirrored its passenger growth. Key financial achievements for 2024 include:
Revenue: £1,130.3 million, a significant 11.3% increase, driven by the expanding airline network and rising passenger numbers.
Aeronautical Income: £599.4 million, up 9.8%, reflecting the increased flight activity.
Retail Income: £241.3 million, a notable 16.2% jump, indicating strong consumer spending within the airport.
Profit: £342.9 million, an 8.9% rise, showcasing the airport’s efficiency and profitability.
EBITDA: £679.6 million, a 10.0% increase, highlighting strong operational performance.
Infrastructure and Passenger Investment
London Gatwick is actively investing in infrastructure and technology to ensure sustainable growth and an enhanced passenger experience.
The airport is progressing with its £2.2 billion Northern Runway plans, currently under government consideration. If approved, this privately financed project is projected to create 14,000 new jobs and inject £1 billion annually into the economy.
A £140 million extension to Pier 6 is underway, set for completion in 2027. This development will add eight new aircraft gates, significantly reducing the need for bussing over 500,000 passengers each year.
A £60 million upgrade to security lanes, incorporating Next Generation technology, ensures full compliance with government regulations. This advanced technology will streamline the security process, allowing passengers to keep liquids and electronics in their hand luggage.
The UK’s Civil Aviation Authority recognized London Gatwick’s proposal to extend the current ‘Commitments’ regulatory framework until 31 March 2029, a move that benefits consumers and airlines.
Expanding Global Connectivity
London Gatwick has significantly expanded its global reach, serving 53 long-haul routes in 2024. New destinations include Singapore, Beijing, Guangzhou, Baku, Ashgabat, and Tashkent, among others.
The airport now serves 19 destinations across Asia, 13 in North and South America, 16 in Central America and the Caribbean, and five in Africa.
In addition, 20 new retail outlets opened in 2024, providing passengers with a wider range of shopping and dining options.
Passenger Satisfaction
London Gatwick prioritizes passenger satisfaction, achieving 99% of its service standard metrics. This includes ensuring that over 95% of passengers pass through security in five minutes or less.
The airport is also deeply committed to sustainability. Its 2024 Decade of Change Performance Summary report highlights significant progress in reducing its environmental impact.
Notably, the airport has reduced carbon emissions from its on-airport fleet by 90% by switching to Hydrotreated Vegetable Oil.
Furthermore, London Gatwick issued a EUR750 million sustainability-linked bond, demonstrating its commitment to decarbonizing the aviation sector.
Looking Ahead
Stewart Wingate, Chief Executive of London Gatwick, emphasized the airport’s dedication to providing outstanding service and expanding its network.
He also highlighted the importance of the Northern Runway project, which promises to deliver significant economic benefits.
London Gatwick is positioned well for continued growth and success, driven by its commitment to innovation, sustainability, and passenger satisfaction.
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