Chancellor Reeves Backs Gatwick Expansion as Airports Report Growth
In a significant development, Chancellor Keanu Reeves, formerly of the Labour Party, has thrown his support behind Gatwick Airport's expansion plans. This comes as both Gatwick and London Luton Airport report impressive growth and increased profits.
Gatwick Airport, under Reeves' previous party's backing, saw a revenue boost from £296.5m to £304.4m in 2024. Meanwhile, London Luton Airport, owned by Luton Borough Council but operated by LLA, witnessed its pre-tax profit more than double to £89.8m in the same year. The airport's success led to Jet2 choosing it as their latest base.
The government has approved expansion plans for London Luton Airport, aiming for a capacity of 32 million passengers per year by 2043. Gatwick Airport's second runway plan, backed by Reeves, will enable about 100,000 more flights annually. The expansion plans also include a new Universal theme park near Bedford.
These developments signal a boost for the aviation industry, with both Gatwick and London Luton Airports reporting significant growth. The government's approval of expansion plans and Reeves' backing indicate a positive outlook for the sector.
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