Gatwick annual results report record-breaking year
Gatwick Airport has announced record-breaking annual results for the year ending 31 March 2018, during which it served 45.7 million people.
The financial year was the busiest in the history of Gatwick Airport, with a total of 45.7 million people pass through its doors. This represented an increase of 3.6% and an additional 1.6 million people compared to the previous year.
Long-haul connections contributed significantly to passenger growth, with 1 million extra passengers flying long-haul during the period – in fact, 1 in 6 of Gatwick’s passengers now travels long-haul. Overall, long-haul travel saw a 14.4% increase compared to the previous year.
A total of nine new long-haul routes were launched by London Gatwick’s airlines over the financial period ending 31 March 2018. Included in this total were Buenos Aires, Doha, Singapore, Chicago, Denver, Austin, Seattle and Taipei. The Asian connection continues to grow, as Air China will commence the only direct flight to Chengdu in the UK from Gatwick next week.
Cargo increased by 20.4% compared to 2016/2017 and reports by Oxford Economics revealed that £7.5 billion worth of goods were actually transported between the UK and overseas markets via flights arriving into or departing from London Gatwick Airport.
Revenue increased by 5.$5 to reach £764.2 million over the financial year recorded – this resulted in pre-tax profits of £233.7 million.
The year ending 31 March 2018 saw more planes and larger planes at Gatwick, with each aeroplane carrying an additional 4.6 more passengers on average than the previous year.
Major retailers who launched a new store at Gatwick during the period include Reiss, Hamleys, Superdry, Jack Wills and kikki.K, while Jamie Oliver opened a new diner there. Over the course of the financial period, retail income at Gatwick Airport increased by 8.8% to reach £177.3 million. This amounted to an increase of £3.82 per passenger – up 4.9% on the previous year.
Boeing’s new hangar is currently being built at Gatwick, bringing 100 new jobs to the airport.
£3.14 billion will be invested in the airport between 2010 and 2023, including £1.11 billion over the next five years alone. Work scheduled includes a new mezzanine level extension to create new restaurant space.
During the financial year up to March 2018, Gatwick launched an award-winning passenger app and continues to be a world-leading technological innovator.
What’s more, the airport became the first to secure “zero waste to landfill” accreditation from the Carbon Trust, as well as maintaining its carbon neutral status for another year.
The Gatwick Foundation Fund gave out £30,000 to community projects over the course of the year.
Nick Dunn, Chief Financial Officer, Gatwick Airport, said: “Gatwick’s global connectivity has grown dramatically with nine new long-haul routes in the last year alone. We now offer 67 long-haul routes in total including the UK’s only direct service to Chengdu, which is due to start flying next week.
“Our increased network drives increased cargo capacity – another example of the vital role Gatwick plays for Britain. As the country prepares for Brexit, it is critical that we continue to grow our long-haul links in addition to connections within the UK and Europe.
“We have ambitious plans to further enhance the experience for passengers at the airport, with a commitment to invest over £3 billion between 2010 – 2023, including an extension to Pier 6 providing six new aircraft stands, plus a new mezzanine level in the North Terminal departure lounge to accommodate new restaurants.
“Gatwick welcomes and is focussed on the Government’s recent challenge to all airports to make the best use of their existing runways. It is vital that all airports are encouraged to increase capacity and we are exploring the best way Gatwick can continue to grow sustainably to support the local and national economy so that Britain can reap the benefits of greater global connectivity.”