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25 June 2013
London Gatwick Airport has delivered financial results in line with expectations as challenging economic conditions continue. The airport has performed well operationally, building volume with its existing carriers, competing to attract new airlines and routes, and delivering record passenger satisfaction.
Key highlights of the year:
Stewart Wingate, Chief Executive Officer of London Gatwick Airport, said:
“Although economic headwinds have remained strong, Gatwick has delivered financial results in line with expectations. This year we saw passenger growth of 1.2% and this compares favourably with our competitor airports. While our turnover has increased by 4.2% to £538.9 million and EBITDA improved by 2.5% to £227.1 million, the airport made a loss in the financial year of £29.1 million.
“We have also continued to invest heavily across the airport, spending £226.7m this year, to ensure our passengers enjoy a better experience every time they travel.
“We are proud of our excellent operational performance this year, particularly through major events such as the Olympics, and we are the only major London airport to have achieved 100% of our service quality targets. This led to record passenger satisfaction.
“It has also been a positive year for welcoming new airlines to Gatwick and attracting new links to key growth markets including China, Russia, Indonesia and Turkey, adding to existing routes which have been expanded such as our services to Vietnam.
“In retail, we have seen good year-on-year results, which compare favourably to performance on the high street. Thanks to the opening of Europe’s largest World Duty Free store in South Terminal and major updates in both South and North Terminal departure lounges, we have seen income per passenger increase.”
For further information please contact
Visit www.gatwickairport.com/investor to download a copy of our Directors’ Report and financial statements for the year ended 31 March 2013 and our 31 March 2013 results presentation.
t: + 44 (0) 1293 505000
About London Gatwick
Gatwick Airport is the UK’s second largest airport and the most efficient single-runway airport in the world. It serves more than 200 destinations in 90 countries for more than 38 million passengers a year on short and long-haul point-to-point services. It is also a major economic driver for the South-East region, generating around 21,000 on-airport jobs and a further 10,000 jobs through related activities. The airport is 28 miles south of London with excellent public transport links, including the Gatwick Express. Gatwick Airport is owned by a group of international investment funds, of which Global Infrastructure Partners is the largest shareholder.
In its December 2013 interim report, the Airports Commission included London Gatwick and Heathrow on its shortlist of potential locations for a new runway in the UK. Expansion at Gatwick will best meet the UK’s aviation needs for the future, can provide the greatest economic boost with the least environmental impact, and a new runway can be operational by 2025. For further information, see: www.gatwickobviously.com
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