London Gatwick Airport revenue up 8.6% in FY2012

UK’s London Gatwick Airport revenue up 8.6% – financial highlights for 12 months ended Mar-2012:

• Revenue: GBP517.4 million, +8.6% year-on-year;
  • Aeronautical: GBP274.2 million, +12.2%;
  • Retail: GBP120.9 million, +4.6%;
  • Car parking: GBP54.3 million, +5.0%;
• EBITDA*: GBP221.5 million, +16.9%;
• Passenger numbers: 33.8 million, +6.9%;
• Aircraft movements: 242,498, +2.9%. [more – original PR]

*Pre-exceptional items

London Gatwick: "Underpinning our performance is a transformation of the passenger experience and improvement in operational efficiency for our airlines and the airport. We have been competing with Heathrow, Stansted and Luton and other European airports, and this has seen us achieve passenger growth every single month over the course of the year. We have been winning new connections to high growth economies including South Korea, Turkey, Vietnam, Hong Kong and China. Passengers and airlines are benefiting from new facilities and we are currently investing around GBP20 million per month. We expect to invest around a further GBP435 million over the next two years as we complete our six year GBP1.2 billion programme,” Stewart Wingate, CEO. Source: Company statement, 25-Jun-2012.

You may also be interested in the following articles...

• Turkish Airlines 1Q revenues grow 28% as losses narrow, but unit costs will be key to FY result
  22-May-2013

  Turkish Airlines cut its 1Q2013 operating loss from TRY173 million to TRY23 million (EUR9.7 million), almost breakeven in the traditionally weakest quarter. Revenues grew 28% on capacity up 21%, with particularly strong growth to Africa, Middle East and Europe. The improved result was driven by unit revenue growth (RASK) as unit costs (CASK) were held flat in spite of higher fuel prices. Earlier this year, the carrier said it did not expect a unit revenue increase for FY2013, so this represents a good start to the year, and ex fuel unit costs will need to remain under control over the rest of the year.

  Much of Turkish Airlines’ success has been built on an efficient workforce and the geographic location of the Istanbul hub, which facilitates a global connecting strategy. Both of these elements were visible in 1Q2013, with labour cost growth slower than capacity and transfer passenger growth outpacing the total. Nevertheless, a strike called on 15-May-2013 (albeit with limited impact) and the relentless competitive presence of the Gulf carriers are reminders that this success cannot be taken for granted.

• Indian Aviation in 2013/14 Part 3: Global operators bid for Chennai and Kolkata airport management
  17-May-2013

  This is the third in a four-part series of extracts from the full 200+ page India Aviation Outlook Report for 2013/14. The first extract looked at the changing dynamics of the airline sector on domestic and international routes, while the second examined the policy vacuum that persists in India and the impact this has on the viability and development of the sector.

  This third part addresses key issues in airport and airspace infrastructure, in particular the AAI's challenges in offering management contracts for two of India's major airports and the prospects for regional hub operations - or not.

  The next and final extract will consider this year’s outlook for traffic, capacity, yields and airline profitability.