Gatwick bounces back from pandemic losses - but warns of inflation threat

And it is now lifting a cap on the number of flights introduced this summer because of staff shortages.

But airport bosses are warning that the airport is not completely out of the woods yet and that there are concerns over the possible future impact of inflation and the rising cost of living.

However, Gatwick chief executive Steward Wingate said: “This has been a transformational year for the airport and the region.

"We have seen a really strong bounce back in passenger demand – more so than any other European airport.”

He spoke out after publication of Gatwick’s half-yearly financial results showed that the aiport made a profit of £50.6million for the period, compared with a £244.6million loss for the first six months of 2021.

The airport now expects to see passenger numbers grow to 32.8million this year but adds in its financial report: “The airport however notes that continued macro-economic uncertainty – including inflationary pressures on costs and passenger demand for the winter season may impact these forecasts.”

However, Stewart Wingate remains optimistic and says that he expects passenger levels to grow to 39.9million next year.

“We still have some way to go, but strong demand has fast-tracked Gatwick’s recovery from the pandemic, particularly in the last quarter since all UK travel restrictions were removed.

"Air traffic volumes have reflected this strong passenger demand and have bounced back to around 75 per cent of pre-Covid levels.

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“The unprecedented growth in traffic led to short term operational issues in June, however our decisive early action to limit the airport’s capacity in the crucial school holiday period of July and August has ensured passengers have experienced reliable flight timetables over the summer months.

"We are now very much operating business as usual and do not see any reason to extend the capacity declaration.”

“Despite some broad economic uncertainty, we are also looking forward to a successful second half to the year.”

And he thanked all those who work at the airport for helping it to achieve success. “Everyone who relies on the airport for their livelihood should be proud of the fact that we have bounced back more than any other European airport.”