BUSINESSMONEY & FINANCE

Turnover increases by 1.7% at Belfast City Airport

George Best Belfast City Airport, Turnover
Overall revenue for the year to 31st December increased 1.7% from £20,799,000 in 2015.

Turnover at Belfast City Airport grew to £21,150,000 in 2016, according to accounts filed at Companies House.

It was another strong year for the airport which catered for 2.67 million passengers over the 12 months while operating profits were £2,743,000 compared to £2,919,000 in 2015.

Overall revenue for the year to 31st December increased 1.7% from £20,799,000 in 2015.

The airport’s Chief Executive Brian Ambrose said:

“Both operating profits and passenger numbers remained relatively steady in 2016 while turnover marginally increased.

“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.

“It is part of a growing number of partners which operate from the airport including Flybe, British Airways and KLM.

“In 2017, we have launched new destinations that include Reykjavik with Icelandair while Eastern Airways has boosted our domestic offering with routes to the Isle of Man and Newcastle.

“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.”

Due to the impact of a restructuring of debt in 2015, Belfast City Airport inucrred interest payments of £3,432,000 in 2016 and losses before tax of £689,000 for the year.

Meanwhile, the takeover of the airport by 3i was completed in June this year. Brian added:

“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.”

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