‘Business as usual’: Gatwick returns to profitability after pandemic turbulence

posted on 23rd August 2022 by Eddie Saunders
‘Business as usual’: Gatwick returns to profitability after pandemic turbulence

By , cityam.com

Gatwick has returned to profitability, more than two years after Covid-19 lockdown restrictions grounded flights and restricted travellers heading into the London airport.

The airport reported a profit after tax of £50.6m and a revenue of £291.5m for the six months to June, as it welcomed over 13m passengers. Gatwick was still carrying a £370.6m loss by the end of last year.

Air traffic volumes hit 75 per cent of pre-pandemic levels in the second quarter of this year.

“We still have some considerable way to go, but strong demand has fast-tracked Gatwick’s recovery from the pandemic, particularly in the last quarter since all UK travel restrictions were removed,” CEO Stewart Wingate said in a statement today.

“The unprecedented growth in traffic lead to short term operational issues in June, however our decisive early action to limit the airport’s capacity in the crucial school holiday period of July and August has ensured passengers have experienced reliable flight timetables over the summer months.

“We are now very much operating business as usual and do not see any reason to extend the capacity declaration.”