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[textarea]Gatwick earnings up on lower passengers
Gatwick Airport had fewer passengers last year, partly as a result of the Icelandic volcanic ash cloud, but made more money out of those that did pass through its two terminals. In the 12 months to April, Gatwick's first full year under the ownership of Global Infrastructure Partners, 31.6 million people passed through the airport, 2.3% lower than the previous year. During that time, the airport's earnings before tax, interest and other exceptional items jumped 12.2% to £189.4 million.
The airport's turnover was flat at £476.3 million. Interest on its £1.2bn of debts saw it report losses of £62.5 million, much lower than the £183 million over the previous 15 months.It is currently investing £20 million a month in the airport, including new security facilities and check-in zones.
Gatwick's chief executive, Stewart Wingate, said: ‘We delivered strong performance in our first full year of new ownership despite the challenging environment and extraordinary events that affected major airports across Europe. Resilient passenger traffic combined with our relentless focus on cost efficiency helped us achieve solid financial results.’
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Gatwick Airport had fewer passengers last year, partly as a result of the Icelandic volcanic ash cloud, but made more money out of those that did pass through its two terminals. In the 12 months to April, Gatwick's first full year under the ownership of Global Infrastructure Partners, 31.6 million people passed through the airport, 2.3% lower than the previous year. During that time, the airport's earnings before tax, interest and other exceptional items jumped 12.2% to £189.4 million.
The airport's turnover was flat at £476.3 million. Interest on its £1.2bn of debts saw it report losses of £62.5 million, much lower than the £183 million over the previous 15 months.It is currently investing £20 million a month in the airport, including new security facilities and check-in zones.
Gatwick's chief executive, Stewart Wingate, said: ‘We delivered strong performance in our first full year of new ownership despite the challenging environment and extraordinary events that affected major airports across Europe. Resilient passenger traffic combined with our relentless focus on cost efficiency helped us achieve solid financial results.’
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