Gatwick Airport has experienced a significant rise in passenger numbers, driven primarily by short-haul travel demand.
- The first half of 2024 saw passenger numbers at Gatwick increase by 7.7%, marking a substantial recovery trend.
- Revenues have risen by 15.3% to £488 million, with pre-tax profits also seeing a sharp rise of 36%.
- Despite growth, overall passenger numbers are still down compared to 2019, highlighting ongoing long-haul challenges.
- Plans for expansion could further support Gatwick’s growth, including utilising a northern runway to increase capacity.
Gatwick Airport’s recovery in the first half of 2024 is noteworthy, with a 7.7% increase in passengers, largely attributed to robust short-haul travel demand. Despite this recovery, passenger numbers remain approximately 10% lower than in 2019, indicating a slow recovery, particularly in the long-haul sector.
The airport’s financial health is reflected in a 15.3% increase in revenues, amounting to £488 million, alongside a 36% surge in pre-tax profits. Stewart Wingate, Gatwick’s CEO, remains optimistic about the future, especially with potential expansions in the airport’s network.
Long-haul travel at Gatwick is still struggling, with a 30% reduction from pre-pandemic levels. Some long-haul slots have been repurposed for short-haul flights temporarily, reflecting the current demand shift.
Wingate is confident about reverting these slots to long-haul flights as the network expands, particularly focusing on airlines from Asia. The short-haul sector remains resilient, seeing only a 5.6% gap to pre-pandemic passenger numbers, and is expected to surpass 2019 levels by year-end.
An ambitious expansion plan, requiring government approval, includes utilising Gatwick’s emergency northern runway which could significantly increase passenger capacity to 75 million annually by the late 2030s.
Gatwick’s strategic focus on short-haul travel and expansion plans position it well for future growth, despite current long-haul challenges.
