UK. London Gatwick Airport’s first-half retail revenue slipped -1.1% year-on-year to £107 million (US$145.7 million) in the face of a sharp -4.1% year-on-year decline in passenger numbers to 19.1 million. The traffic decrease was driven by the Middle East conflict and capacity reductions from some low-cost carriers.
However, in a key indicator, net retail income per passenger for the period ended 30 June rose an encouraging +4% year-on-year, underlining a strong trading performance.
Route network diversification, led by Africa and Southeast Asia flights, boosted spend per passenger, while revenues also benefitted from completed terminal refurbishments.
Car parking revenue was ahead +1.9% to £69 million (US$94 million).
The commercial results were an integral part of what London Gatwick described as a “solid” operational and H1 financial performance with H1 revenue rising +4.8% year-on-year to £515.2 million (US$701.60 million) and EBITDA up +5.5% to £276.5 million (US$376.5 million).
London Gatwick Chief Executive Pierre Hugues-Schmit said: “Despite a challenging geopolitical and economic backdrop, London Gatwick has continued to perform well, grow its network and deliver a world-class service for passengers.
“We are also excited about our longer-term growth opportunities and with the legal process for the Northern Runway Programme now complete, we can turn our focus from planning to detailed design work and delivery.
“This is one of the UK’s largest privately financed infrastructure projects and, alongside our existing £1.9 billion (US$2.6 million) capital investment programme, demonstrates our confidence in Gatwick’s future and our commitment to continuing to invest in our infrastructure while supporting jobs, trade, tourism and the regional economy.” ✈
