Gatwick Airport has reported a notable 7.7% increase in passenger numbers for the first half of 2024.
This growth is attributed primarily to a robust recovery in short-haul travel, despite long-haul passenger numbers still lagging behind pre-pandemic levels.
Revenues at Gatwick Airport rose by 15.3% to £488 million in the first six months of 2024. This was paralleled by a substantial 36% increase in pre-tax profits, reaching £136.3 million.
However, it is important to note that overall passenger numbers remain 10% below those recorded in the first half of 2019. This shortfall is largely due to a 30% decrease in long-haul travel relative to pre-pandemic figures.
The airport’s short-haul network is showing solid performance with 16.9 million passengers in the first half of 2024, which is just 5.6% below pre-pandemic numbers.
Gatwick’s Chief Executive, Stewart Wingate, anticipates that short-haul passenger volumes will exceed those of 2019 by the year’s end.
Some long-haul flight slots have been temporarily reallocated to short-haul carriers.
Wingate expressed optimism that these slots would revert to long-haul use as the airport expands its network, particularly with airlines from India, China, and other parts of Asia.
This strategic adjustment is crucial as it allows Gatwick to maintain operational efficiency while planning for future long-haul growth.
Gatwick is awaiting government approval to bring its emergency northern runway into regular use. This is a key component of the airport’s £2.2 billion expansion plan.
If approved, this would enable Gatwick to handle up to 75 million passengers annually by the late 2030s, a significant increase from the 40.9 million passengers recorded last year.
The expansion plan is central to Gatwick’s long-term growth strategy, aimed at boosting both short-haul and long-haul capacities.
Increasing runway capacity would not only enhance passenger throughput but also attract more airlines and routes, further solidifying Gatwick’s position as a leading international hub.
The airport’s strategic focus on combining robust short-haul operations with anticipated long-haul recovery is key to its future success.
While short-haul travel shows strong performance, long-haul travel has yet to recover fully.
Wingate remains optimistic, citing ongoing efforts to reestablish long-haul routes as critical to the airport’s overall recovery strategy.
The slow rebound of long-haul travel underscores the challenges that remain despite current successes.
Gatwick’s robust performance contributes significantly to the local and national economy.
The airport’s financial health supports numerous jobs and industry supply chains.
In conclusion, Gatwick Airport’s strong performance in the first half of 2024 underscores a significant recovery, driven by short-haul travel.
With strategic long-term plans and potential government approval for expansion, Gatwick is poised for continued growth in passenger numbers, contributing positively to the economy.
