Gatwick's owners launch £1.1 billion investment programme
Gatwick Airport's owners have announced plans to launch a major £1.1 billion investment programme at the airport.
The newly formed partnership, formed by VINCI Airports and Global Infrastructure Partners, which now owns the airport, will invest significantly in "putting passengers at the heart" of an exciting new stage in the airport's development.
The £1.1 billion Capital Investment Programme will deliver a host of improvements to the Gatwick passenger experience by 2023.
Global Infrastructure Partners maintains its 49.99% share in Gatwick Airport, while VINCI Airports has now completed the purchase of its 50.01% stake.
VINCI Airports is the world's leading private airport operator, with 46 airports in 12 countries. The company brings its experience and expertise to Gatwick, as well as international development and training opportunities to staff.
Nicolas Notebaert, CEO of VINCI Concessions and President of VINCI Airports, said: “This partnership marks the beginning of a very exciting future for London Gatwick and VINCI Airports. Applying our joint skills will add significant value to both VINCI Airports and London Gatwick Airport and benefit all our stakeholders, notably airlines and passengers. Combining our expertise will further improve our operational excellence and sustain our shared vision of putting passengers’ satisfaction at the heart of everything we do.”
Sir David Higgins, Chairman, Gatwick, said: “Today’s announcement marks an exciting new era for Gatwick, its airlines and passengers. We welcome VINCI Airports to Gatwick and are grateful for this strong vote of confidence in Gatwick and the UK.”
Stewart Wingate, Chief Executive Officer, Gatwick, said: “Today is the start of a new chapter for Gatwick, with new owners and further investment enabling the airport to continue on its successful journey. The management team and I will remain focused on delivering exceptional service to our passengers and to developing longer-term plans to grow our airport.”
Michael McGhee, GIP Partner, said: “The GIP-VINCI partnership is focused on continuing the transformation of the airport. VINCI’s global airport expertise, coupled with GIP’s intimate knowledge of Gatwick and the UK market, offer a unique and complementary world-class airport capability to carry on delivering exceptional performance.”
Gatwick Airport has seen passenger numbers increase from 32 million to over 46 million over the past decade, as well as achieving its highest-ever passenger satisfaction score of 4.29 out of 5.0 at the end of 2018.
The airport has also significantly expanded its long-haul network, with more than 60 routes now available across the world - in fact, Gatwick flies to more destinations than any other UK airport.
£2 billion has been spent on updating Gatwick Airport's facilities in the past 10 years.