Turnover soars beyond £21 million at Belfast City Airport
BELFAST City Airport is flying in the right direction as turnover soared past the £21 million mark last year.
The City Airport has seen its revenue increase over the past year to £21.2 million for the year ending December 31 2016, a rise of 1.7 per cent from the 2015 figure (£20.8 million).
This increase was offset though by a six per cent fall in operating profits from £2.92 million to £2.74 million over the 12 months.
Due to the impact of a restructuring of debt in 2015, the airport incurred interest payments of £3,4 million in 2016 and losses before tax of £689,000 for the year.
Belfast City Airport has said the figures were impacted by the termination of the Aer Lingus service to London Gatwick, but remain positive for the future following the takeover by 3i, completed in June this year.
“Following the arrival of 3i, we will continue to strategically invest over the coming months and years as we seek to further expand operations and improve profitability," chief executive Brian Ambrose said.
"Figures were affected by the cessation of Aer Lingus’ route to London Gatwick, which was a consequence of its takeover by International Airlines Group (IAG).
“However, the carrier remains committed to the City Airport, and actually increased capacity on its flights to Heathrow during the year."
“This year has also been marked by our successful co-hosting of Routes Europe while Belfast City Airport was also recently named the most punctual in the UK," he added.
In all 2.67 million passengers visited the airport over the 12 months to December 31, while so far in 2017 a number of new destinations have been launched, including Reykjavik with Icelandair and Eastern Airways' new routes to the Isle of Man and Newcastle.