Gatwick Airport Profit Boosted By Traffic Growth

November 29, 2011

Bookmark and Share

London's Gatwick Airport reported a 43 percent rise in first-half profit, helped by strong growth in passenger traffic, which it expects to continue in the final six months of the year.

Gatwick, owned by US investment fund Global Infrastructure Partners (GIP), on Tuesday said its operating profit rose to GBP£118.6 million (USD$185.5 million) in the six months to the end of September on turnover 15 percent higher at GBP£314.5 million.

The airport, London's second largest behind BAA's Heathrow, said 19.7 million passengers flew through Gatwick during the period, 8.5 percent up on the first-half a year ago.

The same period last year was hit by disruption caused by the eruption of an Icelandic volcano, which led to the closure of much of Europe's airspace for around a week.

Gatwick Airport said it still expects a total of 33.6 million passengers to travel through the airport in the year to the end of March 2012.

"While passenger numbers are ahead of expectations for the six months ended 30 September 2011, the expectation for the full year outturn remains unchanged," the company said in a statement.

It said retail income rose 5 percent during the period, down on the 8.5 percent growth in passenger numbers.

(Reuters)