London Mayor hails Gatwick’s decision to boost £1.2bn investment
- Gatwick boosts investment in transformation by £200m to a total of £2.5bn since new ownership
- Investment will support the airport’s continued record growth
The Mayor of London, Sadiq Khan, today visited Gatwick to hail the airport’s decision to boost its investment in the airport by an additional £200 million.
Sadiq Khan also underlined his support for the construction of a second runway at the airport. He called on the new Prime Minister, Theresa May, to support the capital’s economy by making a final decision on airport expansion in the South East a top priority, and he urged that decision to be in favour of Gatwick.
The £200 million increase in investment announced by Gatwick today will be spent transforming, revitalising and improving the existing airport – and will bring the total investment over the coming five years to £1.2 billion. The total invested in improving the airport since new ownership (2009) through to 2021 will be £2.5 billion.
Some of the projects identified in the new Capital Investment Programme (2016 to 2021) announced today include:
- Expansion of both the North Terminal and South Terminal departure lounges
- Upgrading shopping facilities
- Expansion of the North Terminal and South Terminal immigration halls
- Additional aircraft parking stands and optimisation of taxiways
This investment will allow Gatwick to bring forward planned projects to cater for and support the airport’s rapid growth. The airport has also identified some new projects which will provide the additional capacity for future passengers while a decision on expansion is awaited.
Since coming into private ownership in 2009, Gatwick has grown from 31 million annual passengers to 41 million annual passengers, which is a decade ahead of industry predictions and forecasts. Gatwick could not have achieved this rapid and record growth without huge investments in infrastructure, systems, and improvements to the passenger experience.
The Mayor of London, Sadiq Khan, said:
“Gatwick is the front door to London for millions of visitors to our city and I salute their decision to spend another £200m on improvements to the airport. They have put together a formidable plan that is a fantastic display of their confidence in London.
“The new Prime Minister has a very important decision to make regarding new airport capacity, and I urge her to rule as swiftly as possible in favour of a second runway at Gatwick, which would bring substantial economic benefits."
Gatwick Airport CEO Stewart Wingate said:
“As Gatwick rapidly approaches full capacity, this increased investment paves the way for our second runway project. As we enter a new era for Britain, we must be agile and decisive as a country to show the world that we are open for business.
“It is now clear that only Gatwick can deliver the runway Britain needs to boost international competitiveness and trading links at a time when it is most needed, and we can do that before 2025.
“This investment will also make sure that we can continue Gatwick’s record growth and transformation. Our total investment since coming into private ownership now stands at £2.5 billion as we operate the World’s most efficient single runway airport.”
Gatwick has already completed work to transform Pier 1 in the South Terminal – including state of the art baggage system and early bag store – and the ongoing North Terminal development programme has resulted in the World’s largest self-service bag drop and check-in area being opened this year.
Notes to editors
About Gatwick Airport
Gatwick Airport is the UK’s second largest airport and the most efficient single-runway airport in the world. It serves more than 220 destinations in 80 countries for more than 41 million passengers a year on short and long-haul point-to-point services. It is also a major economic driver for the South East region, generating around 21,000 on-airport jobs and a further 10,000 jobs through related activities. The airport is south of Central London with excellent public transport links, including the Gatwick Express, and is part of the Oyster contactless payment network. Gatwick Airport is owned by a group of international investment funds, of which Global Infrastructure Partners is the largest shareholder.
A Government decision on whether Gatwick airport should be expanded is expected this year. Gatwick’s second runway will deliver the UK the same number of passengers, the same number of long haul routes, better UK and regional connections, and the economic boost the UK needs, all at a dramatically lower environmental impact, at less than half the cost of Heathrow, and with no public subsidy.