Gatwick profits fall as Iran war sees passenger numbers drop

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Gatwick airport has revealed half-year profits fell by nearly a fifth as fewer passengers passed through its terminals due to the Iran war hit to international travel.

The West Sussex airport reported pre-tax profits of £136.5 million for the six months to June 30, down 18% from £166.2 million a year ago.

It said 19.1 million passengers travelled through the airport’s two terminals over the first half, down 4.7% compared with a year earlier.

Long-haul passengers suffered the steepest decline, down 9.2% due to the Middle East conflict, while short-haul passengers fell 3.9%.

The group said passenger demand was impacted by concerns over jet fuel supplies amid the war, but said there had been no shortages so far.

Travellers are also booking closer to departure because of uncertainty caused by the conflict, it added.

The results come after a Court of Appeal ruling at the start of August paved the way for development of Gatwick’s second runway.

The £2.2 billion expansion, approved by Transport Secretary Heidi Alexander in September, will see the airport move its emergency runway 12 metres north to accommodate around 100,000 more flights a year.

Pierre Hugues-Schmit, chief executive of London Gatwick, said: “Despite a challenging geopolitical and economic backdrop, London Gatwick has continued to perform well.”

“We are also excited about our longer-term growth opportunities and with the legal process for the Northern Runway Programme now complete, we can turn our focus from planning to detailed design work and delivery,” he added.

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