Expanded retail and dining network boosts London Gatwick Airport commercial performance in 2024

UK. A series of new and upgraded stores and restaurants helped drive a +16.2% surge in London Gatwick Airport retail income to £241.3 million (US$312 million) in 2024, the airport company has reported. The growth outpaced a +5.7% increase in passenger traffic to 43.2 million.

Highlights included the refurbishment of the North Terminal international departures lounge in the first half and commercial partners opening 20 new units across both terminals during the year. These helped to enhance the passenger experience and boost retail revenue, the company said.

Total revenue grew by +11.3% to £1,130.3 million (US$1,461 million), driven by an expanded airline network and passenger volume.

Profit for the period climbed +8.9% to £342.9 million (US$443.4 million), with EBITDA up +10% at £679.6 million (US$879 million).

Long haul passenger numbers climbed +18% year-on-year in 2024, representing 15% of the airport’s total passenger volume. The Asia market experienced the strongest growth, including enhanced connectivity to India, Central and East Asia.

Growth in the long-haul market is expected from Chinese carriers in Q1 2025 as a result of the annualisation of routes that began in summer 2024. The summer season will see the debut of new long-haul services including Kenya Airways to Nairobi, while Singapore Airlines will increase operations to a daily service from the summer. Wizz Air will commence long-haul operations in summer  with a daily service to Jeddah, Saudi Arabia.

The crucial short-haul market saw traffic increase by +4% in 2024 compared to 2023.

Chief Executive Stewart Wingate 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.

“The 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 £1 billion injection into the economy each year.”