Thursday, March 20, 2025
London Gatwick Airport soared to new heights in 2024, welcoming an impressive 43.2 million travelers – marking a 5.7% increase compared to 2023. The surge in passenger numbers was propelled by a dynamic expansion in airline partnerships and destination offerings, with 57 carriers now operating through the airport – the most in its history.
Financial Highs Define a Robust Year
London Gatwick’s 2024 financial report showcased remarkable momentum. Total revenue surged to £1.13 billion, a notable 11.3% year-on-year rise. This upward trend was supported by robust aeronautical income totaling £599.4 million (+9.8%), thriving retail operations generating £241.3 million (+16.2%), and a strong performance in parking services contributing £147.8 million (+11.3%).
Operating profits climbed to £342.9 million – up 8.9% from the previous year – while EBITDA reached £679.6 million, reflecting a 10% increase, reinforcing the airport’s status as one of the UK’s most financially resilient aviation hubs.
Strategic Investment in Infrastructure and Sustainability
Gatwick’s ambition to drive long-term growth took a significant leap forward in 2024, with the UK’s Transport Secretary, Heidi Alexander, indicating preliminary support for the airport’s Northern Runway development plan. This £2.2 billion privately funded initiative is expected to unleash 14,000 new employment opportunities and deliver an annual economic boost exceeding £1 billion once finalized.
Parallel to the runway plan, Gatwick is investing heavily in its passenger infrastructure. Construction is well underway on a £140 million expansion to Pier 6, scheduled for completion in 2027. The extension will add eight new aircraft gates, reducing reliance on bus transfers and improving comfort for over half a million passengers annually.
In another significant step forward, the airport launched a £60 million project to enhance its security processes with cutting-edge screening technology. The new system will allow travelers to keep liquids and electronics inside their cabin bags, streamlining security procedures and minimizing queues while meeting all regulatory standards.
Enhancing Passenger Experience and Airline Connectivity
With service excellence front and center, London Gatwick was recognized by the Civil Aviation Authority for its proposal to extend its current regulatory framework through March 2029. This move supports both passenger interests and airline planning, signaling the airport’s commitment to collaborative progress.
In 2024, Gatwick expanded its long-haul network to an impressive 53 destinations. New routes launched to cities like Singapore, Beijing, Guangzhou, Baku, Ashgabat, and Tashkent, further enhancing the airport’s global connectivity. In total, 19 destinations were served across Asia, alongside 13 in the Americas, 16 in Central America and the Caribbean, and five in Africa.
The airport’s commercial growth was equally vibrant, with 20 new retail outlets opening their doors in 2024, adding to the convenience and variety available to passengers.
Delivering Exceptional Service Standards
With the unwavering dedication of its frontline staff, London Gatwick achieved a service excellence milestone – hitting 99% of its service metric targets for the year. Over 95% of passengers cleared security checks in under five minutes, reflecting the airport’s operational efficiency and customer-first philosophy.
Sustainability Takes Center Stage
Demonstrating a firm commitment to a greener future, London Gatwick unveiled its 2024 Decade of Change Performance Summary, tracking 42 key indicators across three sustainability pillars: People and Communities, Net Zero ambitions, and Local Environmental Impact.
One of the standout achievements was a 90% reduction in carbon emissions from the airport’s on-site vehicle fleet. This was made possible by transitioning 300 vehicles from diesel to Hydrotreated Vegetable Oil (HVO), highlighting a tangible shift toward greener operations.
Further cementing its leadership in sustainable finance, the airport issued its largest-ever sustainability-linked bond – a €750 million initiative tied to stringent carbon reduction targets. This bold move underscores Gatwick’s dedication to aligning its financial strategy with climate action goals and accelerating the aviation sector’s decarbonization journey.
Stewart Wingate, Chief Executive, London Gatwick, said: “Thanks to the dedication of teams across the airport and investment in new facilities and services, our passengers received outstanding service throughout the year. We also offered a record-breaking choice of airlines and destinations, and this has driven our strong financial performance in 2024.
“Today’s results come off the back of the announcement that the Government is minded to approve our privately financed Northern Runway plans. We stand ready to deliver these plans and will continue to engage fully in the extended process towards a final decision and the realisation of 14,000 new jobs and a £1bn injection into the economy each year.”
