A five-year capital investment plan of £1.11bn has been announced by Gatwick Airport. The new money brings the total investment to more the £3bn since the airport’s acquisition by Global Infrastructure Partners in late 2009 and is to be spent on supporting airline growth as well as enhancing the airport for passengers.
Unveiling the strategy, CEO Stewart Wingate said the spend will run up to 2023, with £266m planned for 2018-2019 as Gatwick continues to explore how it can make best use of its existing infrastructure.
With the planned growth of long-haul operations at Gatwick, the airport is predicting passenger numbers will increase to nearly 53 million by 2023, up from 45.6 million in 2017. Various wide-ranging projects have been identified across the site, some of which will be started this year. These include an extension to Pier 6 and work on Pier 5, widening and reconfiguring a taxiway to accommodate Airbus A380s, a new domestic arrivals facility and baggage reclaim in South Terminal plus a mezzanine-level extension in the North Terminal departure lounge. It will also see the completion of the road system and taxiway entrance to the new Boeing aircraft hangar to connect it to the airfield.
Commenting on the latest investment, Wingate said: “By committing to spend another £1.11bn, Gatwick can continue to grow sustainably, attract new airlines and offer more global connections. Our continued growth and ability to attract new long-haul carriers is vital to the health of the UK economy, particularly in a post-Brexit world. Looking beyond this capital investment programme, we welcome the government’s support for airports making best use of their existing runways and we will plan for our longer-term future by developing a masterplan later this year.”