Increase in losses reported
24.12.11
Leeds Bradford Airport has said that increasing losses are ‘as per business plan’, the Yorkshire Evening Post reports. The private equity-owned airport blamed a £10.7 million loss in the year to the end of March just announced on disruption from Icelandic ash cloud, adverse weather and extra costs from its investment programme. The previous year the airport made a loss of £4.4 million. Revenue increased 5.3% to £21 million and passengers were up by 10.9%.
Tony Hallwood, the airports commercial director, told the newspaper: ‘In 2011, we have been one of the fastest growing airports in the UK, with traffic increases of 9% in the 12 months to October 31. We launched ten new routes with a wide number of airlines and tour operators, including Jet2, Ryanair, KLM, Thomas Cook and Eastern Airways. We have also recently announced six new routes that will continue to deliver increased passengers in 2012. It is entirely normal and expected that our profitability will reflect increased interest and depreciation charges during this investment phase in our facilities.’
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