Britain's Gatwick Airport says passenger growth boosts earnings

Written By Unknown on Kamis, 26 Juni 2014 | 17.34

LONDON: Gatwick Airport, Britain's second busiest airport which is competing to be chosen as the site for a new runway, said rising passenger numbers helped boost core earnings in its last financial year.

Gatwick, which is privately owned and run by Global Infrastructure Partners (GIP), posted earnings before interest, taxes, depreciation, and amortisation of 259.4 million pounds in the twelve months ended March 31, 14.2% higher than the year earlier period.

Earnings were boosted by a 4.8% rise in the number of travellers using the airport, with airlines such as easyJet , Norwegian and IAG unit British Airways adding services.

Gatwick, south of London, has been short listed by a government commission as a possible location for a new runway in the densely populated London area, along with two options at the country's busiest airport Heathrow.

"Gatwick's growth to around 36 million passengers this year demonstrates how we are successfully competing in the London market and why we are best-placed to deliver the UK's next new runway," chief executive Stewart Wingate said in a statement on Thursday.

Heathrow, located west of London, handled 72.3 million passengers in 2013.

Lawmakers and business leaders agree that Britain needs new runways to help it remain economically competitive but building more capacity around London is unpopular with voters and a decision on expansion has been repeatedly pushed back.

The commission is due to make a recommendation on where to build the new runway next summer.

GIP retains a 42% controlling stake in Gatwick. Other shareholders are the Abu Dhabi Investment Authority, National Pension Service of Korea, California Public Employees' Retirement System and the Future Fund of Australia.

http://timesofindia.indiatimes.com/followceleb.cms?alias=Gatwick airport,British Airways


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