British Airways has revealed its short-haul London Gatwick operation BA Euroflyer turned in a pre-tax profit of nearly £41 million ($55.5 million) during its first full year of operation.

The airline’s newly-published financial figures for 2024 show that it generated revenues of £429 million after transporting 3.55 million passengers.

BA Euroflyer achieved an operating profit of £27.5 million.

British Airways, which had suspended short-haul from Gatwick for two years during the Covid-19 pandemic, set up Euroflyer under a separate air operator’s certificate with the aim of achieving a lower cost base through which to compete more effectively on short-haul services from the airport.

Euroflyer chief Tom Stoddart had stated in September 2023 – six months after the carrier commenced commercial services – that the initial plan had involved a 28-aircraft fleet at Gatwick, but this required the division to demonstrate that it could succeed in an operation from which BA had previously “never really made money”.

The carrier attributes its revenue performance last year to “strong demand for leisure travel”.

Over the course of the year it received two Airbus A320s and an A321, taking its overall fleet to 23 aircraft – comprising 12 A320s and 11 A321s – and expanded its leisure network to include Agadir, Funchal, Larnaca, Ivalo and Jersey.

Euroflyer also approved a fleet increase to 25 aircraft for summer 2025.