Gatwick Airport's strong 2023 financial performance is driven by increased passenger numbers and tight cost control.
Revenue breakdown reveals aeronautical, retail, and car parking income as the main sources of income.
Gatwick is focusing on sustainability, operational improvements, and infrastructure upgrades for continued growth.
A steady growth in passenger numbers and a tight rein on operating costs drove London Gatwick Airport's solid financial performance in 2023. The airport handled 40.9 million passengers and reported a profit of £315 million ($398m), largely driven by a very busy summer season.

An excellent 2023 result
On Thursday, London Gatwick Airport (LGW) released its 2023 financial results, which showed an airport nearing full recovery from the pandemic and emerging in a strong financial position as it prepares for this year's summer rush. The 40.9 million passengers that passed through the airport represented 88% of pre-pandemic levels and was a 24.7% increase on 2022 numbers.

AZAL LGW
Photo: Gatwick Airport
A key factor in the 2023 performance was the surge of new airlines and services to new destinations at the start of the busy summer season. That surge in traffic saw the post-pandemic recovery reach 94% of 2019 levels in July and October and helped the airport generate revenue of £1,015 million ($1,283m), a 30.7% gain year-on-year (YoY).

The Gatwick announcement gives an excellent insight into where a large airport makes its money, with the revenue broken down into its main components. In 2023, Gatwick's aeronautical income generated £546 million ($690m), retail income £208 million ($263m) and car parking £133 million ($168m). From that revenue, Gatwick earned a profit of £315 million with EBITDA earnings before interest, tax, depreciation and amortization of £618 million ($781m).

In 2023, airports focused intently on working with airlines to resume suspended routes or to start new routes to new destinations, and Gatwick has managed to successfully achieve that. Passengers at Gatwick can choose from 56 airlines flying to 220 destinations, which includes 169 short-haul destinations across a large European network and 51 long-haul routes.