After a nearly two-year closure during the pandemic, Gatwick Airport has reopened its South Terminal to the public, writes David Little, a Partner in our Corporate and Commercial department.
This now means that the UK’s second largest airport has gone from offering around 300 flights a day to approximately 570 – making it the equivalent of opening a new medium-sized airport overnight.
Reported here Aviation Minister, Robert Courts, said: “This is an important moment, not only for Gatwick but for the whole aviation sector. The last two years have been incredibly difficult, and I will never forget that dark day when the South Terminal had to close, which was a huge hit for the industry and the local community here.
One swallow doesn’t make a summer. But look here; UK gross domestic product (GDP) is estimated to have increased by 1.3% in Quarter 4 (Oct to Dec) 2021.
According to the Office of National Statistics UK GDP is now 0.1% below its pre-coronavirus (COVID-19) levels.
The indicative monthly GDP path shows that GDP in December 2021 fell by 0.2%, with reports that the Omicron variant of COVID-19 impacted certain industries, retailing and hospitality in particular.
Annual GDP growth was marginally revised for both 2020 and 2021. Following the 9.3% fall in 2020, which reflected the initial impact of the coronavirus pandemic and public health restrictions, there was a rebound in GDP, which saw an annual rise of 7.4% in 2021. This was the largest annual increase in GDP since the Second World War, according to Bank of England estimates.
We’re all acutely aware that inflation is rising, fuel costs rising even faster and National Insurance has gone up, too.
On the up side, the clocks have gone forward. We have 12 hours’ of daylight… and the cricket season is about to restart.
Winter is at last behind us.
David Little is a Partner at Bishop & Sewell in our expert Corporate & Commercial team. If you would like to contact him please quote Ref CB299 on either 020 7631 4141 or email company@bishopandsewell.co.uk.
The above is accurate as at 04 April 2022. The information above may be subject to change during these ever-changing times.
The content of this note should not be considered legal advice and each matter should be considered on a case-by-case basis.
