London Gatwick Airport has published its financial results for 2022, and recognising the urgent need to make net-zero a reality has accelerated its commitment to be net- zero for its own Scope 1 and 2 carbon emissions by 2030, ten years ahead of its previous commitment. This commitment is aligned with both VINCI Airports’ environmental action plan, which aims for all its EU airports to be net-zero by 2030, and GIP’s strong commitment to decarbonisation action.
This will be achieved by investing over £250 million to reduce carbon emissions, such as moving to an electric vehicle fleet and replacing gas boilers and refrigerants with low carbon alternatives. The airport will also continue to reduce overall energy use, invest in on-site renewable energy, including solar power and source renewable electricity through power purchase agreements (PPAs), to further continue London Gatwick’s role in helping the UK to decarbonise.
For 2022 Gatwick Airport reported that passenger demand was at 70.4% of pre-pandemic levels, with 32.8 million passengers passing through the airport in the year ending December 31, 2022.
Revenue was £776.6 million, driven by a strong and steady recovery in passenger numbers throughout 2022. This includes aeronautical income (£405m), retail income (£159m) and car parking income (£102m). The airport returned to a profit of £196.5 million in 2022, after over £830 million of losses from 2020 and 2021. EBITDA was £446.3 million.
Despite returning to profitability the airport remains cautiously optimistic about a full recovery, given the current economic uncertainty and inflationary pressures. Looking back at 2022, the gradual removal of travel restrictions, and the return of discipline to UK airport slot regulations put London Gatwick in a good position.