The UK’s second-largest airport reports a significant 7.7% growth in passenger numbers in the first half of 2024, primarily driven by a robust recovery in short-haul travel.
During this period, Gatwick Airport’s revenues increased by 15.3% to £488 million, while pre-tax profits surged by 36% to £136.3 million. Despite these improvements, overall passenger numbers are still 10% below those observed in the first half of 2019. Long-haul travel has been particularly affected, experiencing a decline of 30% compared to pre-pandemic levels.
Stewart Wingate, Gatwick’s Chief Executive, highlighted that some long-haul flight slots have been temporarily reassigned to short-haul carriers. He expressed optimism that these slots will revert to long-haul use as the airport continues to expand its network with airlines from India, China, and other parts of Asia.
Meanwhile, Gatwick’s short-haul network remains strong, with 16.9 million passengers recorded in the first half of 2024, just 5.6% below pre-pandemic numbers. Wingate anticipates that short-haul passenger volumes in the latter half of 2024 will surpass 2019 levels. Moreover, the airport is awaiting government approval to bring its emergency northern runway into regular use as part of its £2.2 billion expansion plan.
If approved, the plan would enable Gatwick to accommodate up to 75 million passengers annually by the late 2030s, compared to the 40.9 million passengers recorded last year.
While Gatwick’s short-haul travel demand shows strong recovery, long-haul travel remains a challenge. The airport’s expansion plans could play a critical role in future growth.