Gatwick Airport has announced job losses and runway closures as part of "decisive action" to cut costs.
The airport said it has terminated the employment of 200 staff, including contractors and workers on fixed-term contracts.
Its runway will be suspended between midnight and 5.30am with immediate effect, except for emergency landings.
Two of its six piers - which connect terminals with aircraft - will be closed.
The airport has deferred spending on its investment programme for the foreseeable future.
Chief executive Stewart Wingate and his executive team will take a 20% salary cut and waive any bonus for the current financial year.
Heathrow Airport said on Monday it is taking "immediate steps to safeguard the financial resilience of our business including the protection of jobs".