London Gatwick Airport has registered increased passenger footfall and increased revenues, for the year ended March 31, 2012.
The airport has registered a turnover increase of 8.6 percent, to £517.4 million for the financial year ending in March 2012, with passenger traffic increasing by 6.9 percent, to 33.8 million over the year, compared to the same period a year earlier.
Stewart Wingate, the chief executive officer of Gatwick Airport, said, ‘This has been a successful year for Gatwick. Despite the difficult economic conditions, we have delivered a strong financial performance on the back of growing our passenger traffic by an underlying 3.0 percent. Our turnover has increased by 8.6 percent to £517.4 million, and EBITDA improved by 16.9 percent to £221.5 million.
Underpinning our performance is a transformation of the passenger experience and improvement in operational efficiency for our airlines and the airport. We have been competing with Heathrow, Stansted and Luton and other European airports, and this has seen us achieve passenger growth every single month over the course of the year. We have been winning new connections to high growth economies including South Korea, Turkey, Vietnam, Hong Kong and China.
Passengers and airlines are benefiting from new facilities and we are currently investing around £20 million per month. We expect to invest around a further £435 million over the next two years as we complete our six-year, £1.2 billion programme.’
The airport has reported a pre-tax loss of £48.6 million for the 2012 financial year, 22 percent less than last year’s loss of £62.5 million.