Gatwick’s first full-year financials – few signs of an upturn

London Gatwick Airport released its FY2011 annual report, outlining the financial highlights for the 12 months ended 31-Mar-2011, the first full year of operation under the control of Global Infrastructure Partners (GIP), which took over Gatwick from BAA in Dec-2009. While the management is upbeat the highlights do not inspire confidence, even allowing for some poor trading circumstances during the year in question.