Gatwick Airport coming of age at last?
It is two years since the US-owned Global Infrastructure Partners (GIP) acquired London Gatwick Airport: an enforced sale where GIP beat off a MAG consortium. Almost immediately it began selling off equity to a succession of pension and sovereign wealth funds, raising questions about both its commitment and its ability to drag Gatwick out from the shadows of London Heathrow Airport. Financial results for the six months ended 30-Sep-2011 (1H2011) suggest something is being done well as revenue increased by 15%, passengers by 8.5% and EBITDA by more than a third.
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