Gatwick Unveils Investment Plans as Passenger Number Rise

(Source: Breaking travel news)

Gatwick Airport has announced its biggest-ever annual investment in development projects.

The investment of £250 million for the forthcoming financial year is part of the airport’s £1.2 billion transformative capital investment plan to be spent over five years.

Projects include the expansion of both North and South Terminal departure lounges and shopping facilities as well as a transformed railway station, working in conjunction with Network Rail, and more on-airport parking.

Results released today also show Gatwick continues to further increase its lead as the world’s busiest single-runway airport, with passenger numbers up 6.3 per cent on last year.

Long-haul routes grew 21 per cent, versus the same six months last year, with North Atlantic routes up 40 per cent on the previous year, as WestJet’s new routes to Toronto, Calgary, Vancouver, Edmonton, Winnipeg, and St John’s start.

Meanwhile, Norwegian started a new route Oakland, San Francisco, which contributed to a more than doubling of their passengers from Gatwick.

Stewart Wingate, chief executive, Gatwick Airport, said: “Gatwick represents the changing face of aviation – demonstrated by today’s results.

“We continue to grow strongly breaking records as passengers respond to the variety on offer at the airport, low-cost, charter airlines and full services airlines.”

Revenue at Gatwick for the six months to September 30th was up 8.1 per cent to £445 million.

This resulted in EBITDA increasing 9.8 per cent to £265 million and a profit before tax of £116 million.