Gatwick has offered to reduce its proposed increase in airline fees in an attempt to persuade the Civil Aviation Authority not to cap its charges.
In a revised proposal submitted to the CAA today, the airport is proposing airline fees should increase by 1.5% above the rate of inflation for each of the next seven years, instead of RPI+4%.
Gatwick’s earlier proposal was rejected by the regulator, which said that unless the airport made concessions it planned to cap any increase at RPI+1% for the next five years.
The airport saw a 1.2% increase in passenger numbers in the last financial year to the end of March and a 4.2% increase in turnover to £538.9 million, although it made a £29.1 million loss, which is said reflected the asset-intensive nature of the business and the continued investment being made across the airport.
CEO Stewart Wingate said: "Although economic headwinds have remained strong, Gatwick has delivered financial results in line with expectations.
"We have also continued to invest heavily across the airport, spending £226.7 million this year, to ensure our passengers enjoy a better experience every time they travel.
"We are proud of our excellent operational performance this year, particularly through major events such as the Olympics, and we are the only major London airport to have achieved 100% of our service quality targets.
"It has also been a positive year for welcoming new airlines to Gatwick and attracting new links to key growth markets including China, Russia, Indonesia and Turkey, adding to existing routes which have been expanded such as our services to Vietnam."
