Growth stalls at London City Airport
13.07.08
London City Airport is expecting a slowdown in passenger growth this year as the global financial crisis takes its toll, but still expects a 12 to 15 percent jump to around 3.4 million travellers. The airport's Chief Executive Richard Gooding told Reuters in an interview: ‘It's slower but it's not going backwards,’ adding that 2007 growth was 23 percent.
He added: ‘The froth has come off it ... but you tell me when the current financial crisis is going to end and I'll tell you when passenger numbers will really start growing again,’ noting the airport expected to treble in size to 9 to 10 million passengers a year in 25 years.
London City is more sensitive to corporate habits as 70 percent of its passengers are business travellers. Mr Gooding told Reuters that it was unclear whether the consumer spending downturn would also have an impact, as many holiday-makers would have bought their tickets well in advance. He said: ‘If we see a downturn in leisure travel it will be later in the year.'
Mr Gooding said a new British Airways business class-only route to New York planned for next year could shape the future of the airport, as it could pave the way for more 'medium haul' travel to locations such as Dubai and Moscow. He said: ‘It's a very interesting and innovating thing to do ... it opens up a number of new horizons for us which otherwise would not have been there.'
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