London Gatwick Airport Pretax Profit Falls on Lower Passenger Numbers

London Gatwick Airport reported that pretax profit fell in the first half as fewer passengers passed through the airport. Managed by France’s Vinci Airports, Gatwick said passenger numbers dropped 4.7% to 19.1 million. The airport linked the decline to the ongoing conflict in the Middle East and capacity cuts by some ultra low-cost airlines. Still, it said travel demand remained strong and that seven airlines—listed as Jet2, Air France and Eurowings among them—joined Gatwick in the first six months of the year. It added that Air Zimbabwe and Air Arabia began operations in the second half. Pretax profit fell to 136.5 million pounds ($186.3 million) from 166.2 million pounds, while revenue rose and EBITDA increased.