Accounts reveal airport made a small loss
15.01.09
Rising bank interest charges prevented Liverpool Airport making its first-ever profit, the Post reports. Last March airport owner, Peel Holdings, told the newspaper that it hoped Liverpool would make a maiden profit in 2008. But the airport’s results, filed at Companies House recently, show that it reported a pre-tax loss of £549,000, compared to a loss of £3m in the previous year.
Turnover for the year to March 2008 was up to £34.4m from £31.7m the year before, with operating profit of £4.6m, up from £582,000. However, an increase in interest charges, from £3.6m to £5.2m, took the airport into the red. Thanks to a £7.8m one-off tax credit, its profit after tax for the financial year stood at £7.2m. Passenger numbers rose 8% during the year to 5.56m.
The accounts reveal that Liverpool Airport charges airlines an average landing fee of £2.31 per passenger, meaning it makes a loss of £5.2m from air transport operations. However, its revenue from rents charged to terminal building shops and concessions, car parking fees and charges for other services saw it make a profit of £9.8m from non air transport operations.
A spokesman for the airport told the newspaper: ‘We are very pleased to reduce the deficit from £3m and get much nearer to break-even. The additional security charges were a factor in not reaching that point this time. It’s a tough climate. Nobody is under any illusions, but we are still very confident that we will become profitable in the longer term.’
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