London City Airport Soars in 2024 With Profit Boost and Passenger Growth
London City Airport has seen a remarkable turnaround in 2024, with significant improvements in performance and profitability. The airport's on-time performance increased to 73 per cent, and its pre-tax profit nearly doubled to £11.8m. This positive news comes after the airport returned to profit in 2023, its first full-year profit since the Covid-19 pandemic.
The airport's recovery can be attributed to various factors. Passenger traffic increased by 4.6 per cent year on year to 3.6 million passengers in 2024. Despite a slight dip in passenger numbers, BA Cityflyer, the main airline operating from the airport, improved its punctuality by 4 per cent to 77 per cent. The airline also reported a pre-tax profit of £20.3m in 2024, up from £11.1m in 2023.
The airport's financial health has also been boosted by external investments. In June 2025, Macquarie Asset Management bought stakes in Bristol, Birmingham, and London City airports. Later in 2024, Asterion Industrial Partners acquired a majority stake in London City Airport. This transaction is expected to close within the second quarter of 2024.
The airport's success in 2024 is a testament to its resilience and adaptability. With improved performance, increased passenger traffic, and significant investments, London City Airport is well-positioned for future growth. The government's permission to expand capacity in 2024 further supports this optimism.
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