Gatwick Airport Will Take 'Five Years To Recover' From Impact Of Coronavirus

Saturday, 29 August 2020 07:52

Gatwick's management believes it could be up to five years before business recovers to pre-coronavirus levels.

That's according to newly released half-yearly financial results.

The figures also show that, despite the airport getting a 300-million-pound loan, its bosses still believe cutting up to 600 jobs is needed to secure the business.

Despite an encouraging start to the year passenger numbers at Gatwick fell by 66% in the first six months ending June 30, due to the impact of COVID-19.

Gatwick Airport, Chief Executive Officer, Stewart Wingate said:

"Like any other international airport, the negative impact of COVID-19 on our passenger numbers and air traffic at the start of the year was dramatic and, although there are small signs of recovery, it is a trend we expect to continue to see. However, we are focussed on ensuring the business remains robust and is best placed to take advantage of future growth.

"As with any responsible company we have protected our financial resilience by significantly reducing our operational costs and capital expenditure. We are going through a proposed company-wide restructuring programme and I want to thank all my staff for their hard work to date whilst we go through this difficult time. We will emerge a fitter and stronger organisation, best placed to remain flexible and agile in responding to growth opportunities. This includes continuing to do all we can to protect the safety and wellbeing of our staff and passengers.

"In this post COVID-19 travelling world, we are working hard with our airlines to ensure we continue to offer our customers a wide choice of destinations and carriers. We also expect, next year, to progress our plans to bring the existing Northern (stand-by) Runway into routine use which, as we rebuild our passenger numbers over the next four to five years, will enable us to offer even more travel choice. We will ensure we continue to deliver our operation mindful of our environmental, social and governance responsibilities. We want to rebuild better.

"Despite the immediate challenges I remain resolutely optimistic that Gatwick will recover and retain its position as one of the UK's leading travel hubs and economic driver for the region."