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Airports Market Report 2009
Key Note Publications Ltd, June 2009, Pages: 132
After more than a decade of steadily rising terminal-passenger numbers at UK airports, the worsening economic situation in 2008 contributed to a downturn and the number of terminal passengers at UK airports fell by 1.9%. The combination of business failures, such as those of XL Leisure Group and Zoom Airlines, and fluctuating oil prices also had a marked effect on the numbers of trips being taken.
Despite the declining number of terminal passengers, total revenues generated by UK airports reached an estimated £3.4bn in 2008, which represented a 13% rise on 2007. The main factor boosting the value of the market in 2008 was the substantial increase in BAA Ltd's turnover, which is estimated to account for more than 70% of UK airport revenues in a typical year. The two main sources of income for airports are aviation revenue and commercial revenue. In 2008, aviation revenue, which includes aircraft runway movement charges and aircraft parking charges, accounted for the larger proportion of the total.
In March 2009, the Competition Commission confirmed the break-up of the airport operator BAA and ordered the sale of Gatwick and Stansted. In the final report of its 2-year investigation, the Commission also instructed BAA to sell either Edinburgh or Glasgow airport. The airports must be sold within 2 years and in sequence, starting with Gatwick, followed by Stansted, then Edinburgh or Glasgow. The sale by BAA of Gatwick is already under way.
The Department for Transport (DfT) has announced that passengers' needs should be put first, under new measures designed to improve the air-passenger experience and the economic regulation of airports. Under the plans, the aviation regulator, the Civil Aviation Authority (CAA), will be given a new primary duty to promote the interests of passengers. Air passengers will be represented by a new champion — Passenger Focus — as is the case for rail and bus users. The CAA will also be given a new secondary duty to ensure that airports meet their environmental obligations.
The global recession is expected to affect the UK air transport sector once again in 2009, with the number of terminal passengers at UK airports forecast to fall for the second year in succession. As such, it will be the first time since 1945 that UK passenger numbers have fallen for two consecutive years. In the longer term, the number of terminal passengers at UK airports is forecast to rise sharply, in line with increasing demand for air travel and the introduction of additional airport capacity.
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