1 JULY 2013
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Business travellers should not be too alarmed as the London airports make out their cases for the Airport Commission to consider, and rather like the airlines, say how hard done-by they are.
Gatwick will be submitting its final suggestions to ‘Davies’ over the next couple of weeks which will include a second runway. The £5bn project can be funded privately according to the airport’s CEO, Stewart Wingate. Gatwick is owned by a consortium led by Global Infrastructure Partners, an investment manager, and the Abu Dhabi Investment Authority, the sovereign wealth fund.
Gatwick reported revenue of £538.9m for the year to 31 March, up 4.2% compared with 2011-12, and earnings before interest, tax, depreciation and amortisation of £227.1m, up 2.5% as operating costs increased faster than sales. The airport’s pre-tax loss narrowed from £48.6m to £28.3m.
Mr Wingate has put himself on something of a collision course with easyJet, the largest airline at Gatwick, by rejecting its call for a real terms cut in the charges that the airport levies on carriers for using its facilities. These are determined by the CAA.
Mr Wingate raised strong doubts that a third runway could be built at Heathrow because of environmental and noise issues. www.gatwickairport.com
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