AN airport lost hundreds of millions of pounds in revenue after passenger demand dropped dramatically amid the coronavirus pandemic.

In its half-yearly results published today, Gatwick Airport said passenger numbers fell by 66 per cent in the first six months of the year until the end of June.

As Covid-19 and the lockdown put a stop to international travel, all revenue streams at the airport were impacted.

READ MORE: Gatwick to axe 600 jobs

Although Gatwick remained open throughout the pandemic, the airport suffered a 61.3 per cent fall in revenue and a £321 million loss.

More than 70 per cent of Gatwick employees are still on furlough. Earlier this week it was announced the business plans to cut about 600 jobs as part of a restructuring proposal to reduce operation costs.

The airport expects the recovery period to pre-pandemic traffic levels to be between four and five years.

Chief Executive Officer at Gatwick Airport Stewart Wingate said: “Like any other international airport, the negative impact of Covid-19 on our passenger numbers and air traffic at the start of the year was dramatic and, although there are small signs of recovery, it is a trend we expect to continue to see. 

"However, we are focussed on ensuring the business remains robust and is best placed to take advantage of future growth.

“As with any responsible company we have protected our financial resilience by significantly reducing our operational costs and capital expenditure.  

"We are going through a proposed company-wide restructuring programme and I want to thank all my staff for their hard work to date whilst we go through this difficult time. 

"We will emerge a fitter and stronger organisation, best placed to remain flexible and agile in responding to growth opportunities. This includes continuing to do all we can to protect the safety and wellbeing of our staff and passengers.

“In this post Covid-19 travelling world, we are working hard with our airlines to ensure we continue to offer our customers a wide choice of destinations and carriers.  

"Despite the immediate challenges I remain resolutely optimistic that Gatwick will recover and retain its position as one of the UK’s leading travel hubs and economic driver for the region.”