Gatwick Airport returns to profitability amid air travel rebound

Gatwick Airport has returned to profitability following a bounce-back in air travel.

In 2022, 32.8 million passengers used the West Sussex airport - up from 6.3 million during the previous 12 months, but still 70.4% of pre-pandemic levels.

It reported a £196.5m profit after tax for 2022, against total losses of more than £830m during 2020 and 2021.

Gatwick chief executive Stuart Wingate said the airport had "some way to go to reach a full recovery".

The airport - which is majority owned by France-based company Vinci Airports - said it took "early and decisive action" as the UK's aviation sector struggled with staff shortages between April-June 2022.

The financial results for Gatwick contrast those for Heathrow, which recently reported underlying pre-tax losses of £684m for 2022.

Mr Wingate said the "decisive actions" allowed them to offer "good levels of service to passengers" who travelled through the airport.

"While we still have some way to go to reach a full recovery, we know long-term sustainable investment is critical to the future of our airport and provides a significant boost to the regional and national economy," he added.

Previously, the airport stated it would "take five years to recover" and for passenger numbers to return to pre-pandemic levels.

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