Travel restrictions

Gatwick returns to profit as travel restrictions ease – Reuters

Gatwick returned to profit after travel restrictions were eased this year.

Britain’s second-largest airport also said it did not need to extend capacity restrictions beyond the end of August as it resumes normal business operations.

Gatwick made EBITDA profit of £148.3m in the first half of 2022 and after-tax profit of £50.6m.

This is a reversal from 2021, when Gatwick reported a loss of £244.6m for the first six months and negative EBITDA of -£50.2m.

It also raised its passenger forecast despite the travel chaos that has disrupted many holidays, and now expects 32.8 million passengers in 2022.

However, Gatwick also warned that inflationary pressures on costs and passenger demand for the winter season could impact this forecast.

Stewart Wingate, General Manager of Gatwick Airport, said demand had “bounced back”: “We still have a considerable way to go, but strong demand has accelerated Gatwick’s recovery from the pandemic, particularly at the last quarter since all UK travel restrictions were removed.Air traffic volumes reflected this strong passenger demand and rebounded to around 75% of pre-COVID levels.

“Unprecedented traffic growth led to short-term operational issues in June, but our decisive early action to limit airport capacity during the crucial July and August school holiday period ensured passengers benefited from reliable flight schedules during the summer months.

We are now operating as usual and see no reason to extend the declaration of capacity. »