Moneycorp sign Gatwick deal

The currency provider company Moneycorp have just signed a deal with the owners of London’s Gatwick airport to become the only currency provider within the airport. They have secured this deal for the next five years. The plans for Moneycorp are to double their size of operation kicking big companies like Travelex out as of April 1st this year, this deal has come as big news to many let alone the competing companies.

The airport will have over 200 Moneycorp staff within its busy terminals creating new jobs for many in the area. The foreign exchange service will also be open for a full 24 hours a day 7 days a week. The company have a record at Gatwick with being there for 20 years prior to this agreement being made giving them the upper hand with the Gatwick owners for the takeover. Spencer Sheen Gatwick’s head of retail has come out and said “we wanted a partner who supported our ambitions and values” further claiming Moneycorp has been of great support in their time at Gatwick so far and they provide a quick and sufficient service.

A further reason Gatwick officials say that they made this monumental arrangement is due to being able to be more efficient with just working with a simple partner, making it left complex as a process for people to change their currency and hopefully boosting the amount of passengers in and out of Gatwick in the long term.
This news is of course great for Moneycorp as they will no longer have any competition as of the 1st April at one of the world’s leading airports, which obviously bring them a large profit and help the business expand even further. The same can’t be said about their rival companies as they are told to shut up shop and leave Gatwick for at least the next five years.

Whats your opinion on this controversial plan?