Gatwick airport reveals £465.5M loss in annual report

Passenger numbers at Gatwick Airport fell 78% last year, as a result of the coronavirus pandemic.

Despite the airport remaining open throughout the pandemic, it lost £465.5 million over the twelve months.

In an attempt to restore its finances, the airport cut its running costs by more than £140m in 2020.

This meant staff at the UK's second largest airport had to be cut by 40%.

Gatwick Airport, Chief Executive Officer, Stewart Wingate said the financial issues faced by the airport "will come as no surprise".

Mr Wingate said increased government support would be crucial to the recovery of air travel.

He said: "We need the UK Government to provide further support by extending the furlough scheme for a few more months."

Last night EU leaders agreed that a system will be developed for flights between countries in Europe Credit: ITV News Meridian

The roadmap out of lockdown has "heartened" Gatwick bosses, who say they are looking forward to international travel "as soon as possible."

In the meantime, staff and employees will continue to be tested for coronavirus at walk-in and drive-through sites.