London Gatwick Airport (LGW) has released its financial results for 2024, reporting an increase in passenger numbers and revenue, alongside developments in infrastructure and sustainability.
In 2024, London Gatwick handled 43.2 million passengers, representing a 5.7% increase compared to the previous year. This growth was supported by a record number of 57 airlines operating from the airport, offering an expanded selection of destinations.
Financially, the airport recorded a revenue of 1,130.3 million GBP, an 11.3% rise from the previous year. Revenue streams included:
- Aeronautical income: 599.4 million GBP (+9.8%)
- Retail income: 241.3 million GBP (+16.2%)
- Car parking income: 147.8 million GBP (+11.3%)
The airport’s profit for the period stood at 342.9 million GBP (+8.9%), with an EBITDA of 679.6 million GBP (+10.0%).
Infrastructure and Investment Plans
London Gatwick continues to develop its infrastructure, including the planned Northern Runway project. The Secretary of State for Transport has indicated a favourable view towards its approval, and the airport is engaging in the extended review process. If approved, Gatwick states that the 2.2 billion GBP privately financed project is expected to create 14,000 jobs and contribute 1 billion GBP annually to the economy.
In addition, construction has begun on a 140 million GBP extension to Pier 6, expected to be completed in 2027. This project aims to improve passenger experience by reducing the need for bus transfers to aircraft.
The airport has also invested 60 million GBP in security enhancements, implementing CT scanners to streamline security processes.
Service Expansion
London Gatwick expanded its long-haul network in 2024, adding new routes to Singapore, Beijing, Guangzhou, Baku, Ashgabat, and Tashkent. The airport now serves 53 long-haul destinations, including:
- 19 in Asia (China, India, and the Middle East)
- 13 in North and South America
- 16 in Central America and the Caribbean
- 5 in Africa
Additionally, 20 new retail outlets were introduced during the year. The airport reported high service standards, with over 95% of passengers passing through security within five minutes.
Stewart Wingate, Chief Executive of 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.
Sustainability
London Gatwick previously published its 2024 Decade of Change Performance Summary, tracking progress across People and Communities, Net Zero, and Local Environment targets. The airport reduced emissions from its on-site fleet by 90% through the transition to Hydrotreated Vegetable Oil.
The airport also issued its largest sustainability-linked bond, valued at 750 million EUR, aimed at supporting carbon reduction goals.
