London City Airport back in the black
London City Airport has become profitable for the first time since the pandemic.
It just filed its 2023 annual accounts showing a £6.6m airport profit.
It is the first pre-tax profit since 2019.
London City Airport is back in the black following losses of £48m in 2020, £45.5m in 2021 and £1.1m in 2022.
In 2019 it made a profit of £47.8m
Overall revenues last year were up more than 20% to £102.6m, although it is still below 2019 turnover.
The airport said said passenger traffic was up from 2.9m to 3.4m in 2023.
The airport was recently approved to increase the current passenger cap from 6.5m to 9m passengers annually.
This represents three extra flights in the first half hour of operations on a daily basis.
However, the government blocked a proposal to extend its Saturday operating hours.
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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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