VCISY Vinci SA (PK)

By Adriano Marchese

London's Gatwick airport will lay off around one-quarter of its employees across the business in a company-wide restructuring as it adapts to the effects of the coronavirus pandemic.

The airport--which is owned by Vinci Airports and a consortium of investors managed by Global Infrastructure Partners--said Wednesday that it plans to significantly restructure its business to reduce operating and staff costs as the pandemic has hit passenger and traffic numbers.

This will include removing around 600 job roles, which is approximately 24% of the current number of employees, it said.

Gatwick said that in August passenger numbers were down over 80% down when compared with the same month in 2019.

Gatwick airport is the U.K.'s second largest airport, and flies both short and long-haul flights. It noted that it still has over 75% of its staff on the U.K. government's job retention scheme, which is due to end in October.

Write to Adriano Marchese at adriano.marchese@wsj.com

(END) Dow Jones Newswires

August 26, 2020 11:13 ET (15:13 GMT)

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