London Gatwick Airport Welcomes 40.9 Million Passengers in 2023, Revenue Soars by 30.7%

Friday, March 22, 2024

London Gatwick Airport reported a robust financial performance for 2023, attributing it to a resurgence in traffic and prudent management of operating expenses. The airport highlighted the introduction of new airlines and routes, particularly at the onset of a busy summer, as key contributors to this uptick in traffic. Notably, traffic recovery hit 94% of pre-pandemic levels in both July and October.

Key figures for 2023 revealed:

• A 24.7% increase in passengers to 40.9 million by year’s end, reaching 88% of pre-pandemic traffic.
• Revenue surged by 30.7% to £1,015.1 million, fueled by the rebound in passenger numbers.
• Breakdown of revenue included £545.7 million from aeronautical activities, £207.7 million from retail, and £132.8 million from car parking.
• Profit soared by 69.9% to £314.8 million, with EBITDA at £617.7 million, marking a 38.4% increase.

The airport now serves passengers with options across 56 airlines to 220 destinations, including new long-haul carriers like Air India and Delta, enriching its global connectivity. In terms of service quality, Gatwick excelled by meeting 99% of its service level targets, aided by the addition of 200 security officers, which ensured efficient passenger screenings.

Despite some disruptions, particularly in air traffic control, Gatwick has taken steps to enhance collaboration for more reliable passenger schedules. Investments in infrastructure, such as the newly opened Gatwick train station and upcoming security equipment upgrades, underscore its commitment to service improvement and sustainable growth.

Gatwick’s sustainability efforts are evident in its ambitious Capital Investment Program aimed at achieving net-zero emissions by 2030 and its successful application to operate its Northern Runway, promising regional economic benefits and job creation. The airport’s advancements in carbon management and exploration of green technologies like hydrogen fuel further demonstrate its dedication to environmental stewardship.

Stewart Wingate, Chief Executive Officer, London Gatwick, said: “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 and I’m proud that we continue to offer passengers a fantastic choice of airline and destination, whether flying short or long-haul.

“Combined, our strong performing airline, retail and other revenue streams means we can once again invest in substantial airport improvements. Passengers will already have seen our fully redeveloped train station, new shops, bars and restaurants, and more exciting developments will complete over coming months and years.

“Longer term, our Northern Runway plans are at a critical stage in the process and we will continue putting forward our strong case. Ensuring that all growth is achieved sustainably is of course an ongoing priority and we will keep demonstrating and evolving our commitment to reduce our environmental impacts, contribute positively to local communities and help the economy to thrive.”

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