These are external links and will open in a new windowPlummeting passenger numbers at Luton Airport are contributing to a £49m shortfall at the council which owns it.Luton Borough Council has projected a £37m drop in airport revenue amid a "catastrophic drop" in passengers.Chief executive Robin Porter said further shortfalls in tax, rents, fees and charges would add to the figure.The government has offered councils more than £3bn to deal with Covid-19, but it is unclear if lost commercial income will be reimbursed.Luton Borough Council, which uses profits from the airport to fund local services, has written to government ministers asking for emergency funding.Mr Porter said there was a risk the authority may need to issue a Section 114 notice banning all new spending.The last council to take such measures was Northamptonshire County Council, when it ran out of cash in 2018.Mr Porter said the £49m shortfall was down to an "increase in costs over and above the funding that we've been given by government" and a "substantial drop in commercial revenue".Financial pressure would have "a real and noticeable impact" on services as the authority was "exposed to very violent halts in revenue", he said.Council leader Hazel Simmons said the authority had asked for £50m worth of emergency funding for the 2020/21 financial year.Other authorities in the East of England have also predicted large falls in their income, including:Secretary of State for Local Government Robert Jenrick has said he stands "shoulder to shoulder with local government".The BBC is not responsible for the content of external Internet sitesA further wave of job losses is expected after a record economic fall coinciding with lockdown. Related Internet links. These are external links and will open in a new window These are external links and will open in a new window What does this number mean for a town such as Luton, which largely relies on the movement of people? "For me personally I'm losing my spirit a little bit with not working and being forced to stay home," the 39-year-old, from Luton, said. Coronavirus: Grounded planes and deserted airport terminals Coronavirus pandemic 'costing councils £30m a month' Coronavirus: English councils could resort to 'extreme cost-cutting' Coronavirus: English councils 'on brink of financial failure' Struggling Northamptonshire County Council bans spending 3 Aug 09:19. "In normal circumstances, April would have seen countless holidaymakers flock to the town as a gateway to their Easter break destination of choice.Luton Airport is the UK's fifth busiest airport - with more than 18 million users in 2019 - and any loss of travellers inevitably causes ripples to be felt in the local economy. Luton Airport is a major part of the town's economy Monarch Aircraft Engineering Limited was established in 1967 and was based at London Luton Airport
"We'll continue to work closely with Luton Council to help them navigate through this difficult situation, so they can continue to serve their local community." Coronavirus: Luton Airport woes contribute to £49m council deficit . Holidays; Coronavirus; Travel; all; Most Read; Most Recent; Coronavirus 'Wine windows' used during the plague have reopened due to coronavirus … About 40% of the area's employment relies on a fully functioning airport, says Luton Borough Council.Travel firm Tui, which has a base in Luton, has warned 8,000 jobs would go as it tries to cut costs by 30% in a major restructuring.The airline EasyJet has its headquarters in the town, and has said it will cut up to 30% of its workforce - about 4,500 jobs - as it struggles with a collapse in air travel caused by the virus pandemic.An employee for the airline, who was furloughed at the start of lockdown, said it had been a "difficult time" with "reduced pay on furlough and then redundancies".