Half year results publication – Gatwick Airport

Gatwick Funding Limited

26 August 2026

 

RNS Number: 2164S 
Gatwick Funding Limited
26 August 2026

Issuer: Gatwick Funding Limited
Date: 26 August 2026

Gatwick Funding Limited (the "Issuer")
a company incorporated in Jersey (registered number 107376)

Half year results publication - Gatwick Airport

The Issuer's parent, Ivy Holdco Limited, today published its report and unaudited condensed interim consolidated financial statements for the six months ended 30 June 2026.

The Ivy Holdco Limited report and unaudited condensed interim financial statements consolidate the results of Ivy Holdco Limited, the Issuer, Ivy Bidco Limited and Gatwick Airport Limited. These financial statements and a related investor presentation are available on the Gatwick Airport Limited website at www.gatwickairport.com/investor.

London Gatwick reports solid first half operational and financial performance as Northern Runway cleared for take off 

·      London Gatwick delivered a solid operational and financial performance for the first half of 2026, with revenue and EBITDA both up 

·      Seven airlines joined London Gatwick in the first six months of 2026, as passengers travelled to more than 231 destinations via 60 carriers  

·      Northern Runway Programme - one of the largest privately-financed infrastructure developments in the UK - cleared to move forward following the conclusion of all legal challenges 

London Gatwick has today announced a solid operational and financial performance for the first half of 2026, with the airport now serving more than 231 destinations through over 60 airlines.  

Whilst passenger numbers were impacted by the conflict in the Middle East, demand for travel remains strong, as evidenced by the successful launches of services operated from seven new carriers, including Jet2, Air France, Condor and Eurowings, and a significant increase in the number of carriers serving the airport. A further two airlines - Air Zimbabwe and Air Arabia - also launched in the second half of this year.  

The results are published shortly after London Gatwick received final approval to move forward with the Northern Runway Programme, following the completion of an eight-year legal and planning process.  

Pierre Hugues-Schmit, Chief Executive, London Gatwick said: "Despite a challenging geopolitical and economic backdrop, London Gatwick has continued to perform well, grow its network and deliver a world-class service for passengers.  

"We are also excited about our longer-term growth opportunities and with the legal process for the Northern Runway Programme now complete, we can turn our focus from planning to detailed design work and delivery. This is one of the UK's largest privately financed infrastructure projects and, alongside our existing £1.9 billion capital investment programme, demonstrates our confidence in Gatwick's future and our commitment to continuing to invest in our infrastructure while supporting jobs, trade, tourism and the regional economy. 

"As we look ahead, it is important that the wider policy environment continues to support businesses that are investing for the long term. In the build-up to the budget therefore, our key ask of Government is for a more stable and proportionate approach on key issues such as business rates, to ensure the UK aviation sector remains competitive and affordable for passengers." 

The Interim Results show: 

·      Revenue of £515.2m, up 4.8%, and EBITDA increased by 5.5% to £276.5 million 

·      Passenger numbers at 19.1m (down 4.7%) driven by the conflict in the Middle East and capacity reductions from some low-cost carriers 

Operational performance remained solid, with passengers passing through security in five minutes or less 95% of the time, while the airport achieved 99% of its agreed passenger service measures.  

Northern Runway Programme cleared for take-off 

The Northern Runway Programme underpins Gatwick's long term growth plans and will deliver significant business, tourism and trade benefits for the UK, including 14,000 new jobs, a £1bn boost to the economy every year and a comprehensive employment, skills and business strategy designed to bring maximum benefits to local people and the Gatwick region.  

Following the government's approval of the project in September 2025, the Court of Appeal rejected the legal challenges to the decision in August 2026, concluding an eight-year planning and legal process for the project.   

London Gatwick can now press on with the important job of bringing this exciting project to life and moving from planning to the detailed design and delivery phase. 

Investing and innovating 

The airport's £1.9 billion capital investment programme also continues to progress, with the £140m Pier 6 western extension remaining on schedule for completion in early 2027. 

Innovation continues to play an important role in improving operational efficiency. During the period, London Gatwick expanded initiatives including Smart Stand technology. Developed in collaboration with easyJet and DHL, this incorporates AI to help improve aircraft turnaround efficiency and maximise capacity across the airfield. 

The airport also launched robot-assisted parking in August ahead of peak summer holiday demand. This offers passengers a more convenient mid to long-stay product close to the South Terminal. 

NOTES 

About London Gatwick 

With around 43m annual passengers, London Gatwick is the UK's second largest and one of Europe's top airports. It is a vital piece of national infrastructure that drives both the national and regional economies by generating £5.5bn GVA and supporting over 76,000 jobs (2023). More than 60 airlines fly from the airport to over 160 short-haul and more than 50 long-haul destinations. With a declared maximum capacity of 57 movements an hour, London Gatwick is the most efficient single runway airport in the world.   

The airport is located 28 miles south of the UK capital and is extremely well-connected, with more than a quarter of England's population (15m people) - including all of London - less than one hour away by road or rail. A six-year, £2bn sustainable growth programme includes an ambitious plan to be a net zero airport by 2030 and to increase capacity by bringing the airport's existing Northern Runway into routine use, alongside its Main Runway.  VINCI Airports owns a 50.01% stake in the airport, with Global Infrastructure Partners managing the remaining 49.99%. 

About VINCI Airports 

VINCI Airports, as the leading private airport operator in the world, manages the development and operation of more than 70 airports located in 14 countries. VINCI Airports draws on its expertise as a comprehensive integrator to develop, finance, build and operate airports, leveraging its investment capability and know-how to optimise operational performance and modernise infrastructure while bringing about their environmental transition. In 2016, VINCI Airports became the first airport operator to commit to an international environmental strategy, setting itself the aim of reaching zero net emissions (scope 1 and 2) across the network by 2050 while supporting the territories' local climate transition. 

For more information:  

www.vinci-airports.com 

@VINCIAirports 

https://www.linkedin.com/company/vinci-airports/ 

About Global Infrastructure Partners 

Global Infrastructure Partners (GIP), a part of BlackRock, is a leading infrastructure investor that specialises in investing in, owning and operating some of the largest and most complex assets across the energy, transport, digital infrastructure and water and waste management sectors. With energy pragmatism central to our investment thesis, we are well positioned to support the global energy transition. 

GIP's scaled platform has over $170bn in assets under management. We believe that our focus on real infrastructure assets, combined with our deep proprietary origination network and comprehensive operational expertise, enables us to be responsible stewards of our clients' capital and to create positive economic impact for communities. For more information, visit www.global-infra.com. 

 

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