Gatwick has warned it could take up to four years for demand for flights to recover from the coronavirus pandemic.
The West Sussex airport said it expects post-Covid-19 passenger numbers “will return to recent levels within 36 to 48 months”.
It has taken a series of measures “to enable a quick recovery of the business”.
These include securing a £300 million loan from a consortium of banks, not paying a dividend this year, temporarily closing one of its two terminals and restricting scheduled flights to a daily eight-hour period.
More than 90% of eligible staff have been furloughed and investment has been deferred.
The majority of passenger aircraft have been grounded due to travel restrictions and a collapse in demand caused by the virus.