For the year ended March 31, Gatwick Airport Ltd. has announced total retail revenue of £115.6M (US$184.9M).
The figure, according to the airport’s annual report, is up from £115M during the same period the previous year.
Although the airport saw a 2.3% decrease in year-on-year passenger traffic, revenues increased. Duty free, tax-free and specialist shops totaled £58.9M (US$94.2M), up from £58M (US$92.8M); in-terminal retail was £36.5M (US$58.4M), up from £36.3M (US$58.1); and parking was £51.7M (US$82.7M), up from £50.4M (US$80.6M).
The company is run by U.S. investor Global Infrastructure partners since the acquisition of the airport from BAA.
“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,” says Stewart Wingate, CEO of Gatwick Airport. “Resilient passenger traffic combined with our relentless focus on cost efficiency helped us achieve solid financial results. We also successfully refinanced the business, enhancing our capital structure and establishing a strong liquidity position.
“We worked in partnership with the airlines to re-scope our near £1B (US$1.6B) capital investment program, which is now being delivered with greater efficiency and pace. Passengers and airlines are already benefiting from new, modern facilities and we are currently investing around £20M per month.
“Operational performance and service standards have also improved significantly, which is helping Gatwick compete to grow and become London’s airport of choice.”
