Gatwick narrows annual loss

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London Gatwick airport narrowed its loss by 36% to £29.1 million ($45 million) in the year ending 31 March.

Turnover was up 4.2% to £539 million, while earnings before interest, tax, depreciation and amortisation were up 2.5% at £227 million. The result "reflects the asset-intensive nature of the business and the continued investment being made across the airport" and was "in line with expectations", says Gatwick.

Capital expenditure dropped to £227 million, from £239 million.

Passenger numbers grew 1.2% to 34.2 million.