Gatwick Earnings Rise as More Passengers Take Flights

By Pierre Bertrand

London Gatwick airport reported an increase in earnings for the first half of the year after passenger numbers rose.

The airport said it made 105.8 million pounds ($138.5 million) in net profit for the period, compared with 79.1 million pounds a year ago. Revenue rose 15% to 487.9 million pounds.

Nearly 20 million passengers traveled through the London airport in the reporting period, an increase of 7.7% compared with the prior year.

Revenue was boosted by increases in aeronautical income--revenue generated from airport and other traffic charges--and by retail, parking and other income.

Gatwick, managed by France's Vinci Airports, said that holiday travelers were at 90% of their prepandemic volume, but that traffic was continuing to grow as new long-haul routes connecting the Middle East, Asia and North America were attracting a wider range of passengers.

"With the growing demand for travel, we are experiencing one of our busiest summers yet," the airport's Chief Executive Stewart Wingate said.

Write to Pierre Bertrand at pierre.bertrand@wsj.com

(END) Dow Jones Newswires

August 22, 2024 03:00 ET (07:00 GMT)

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