Liverpool Airport doubles earnings
25.02.12
Liverpool Airport doubled its earnings in the year to March 2011, the Liverpool Daily Post reports. The airport experienced a 1.6% fall in passenger numbers in 2010 / 11, including the cancellation of 602 flights affecting 69,596 passengers, linked to the ash cloud.
The airport managed to double its EBITDA (earnings before interest, tax, depreciation and amortisation) from £5m to £10.3m in the financial period. During the same period Peel Airports invested £10.5m in improvements to its facilities.
Passenger figures for 2011 also showed improvement to almost pre-downturn levels, with a 4.4% increase to 5.25m passengers last year against 5.38m in 2008. Within those figures easyJet recorded a 14% increase in passengers to a record 2.54m, while Flybe reported a 47% year-on-year increase to a record 175,000 passengers, although Ryanair saw its passengers fall by 4% to 2.25m.
Sister site Durham Tees Valley airport saw passengers fall by 11%, although Robin Hood added 10%. The group saw a pre-tax loss of £17m compared with pre- tax losses of £124m in 2009/10, although this included a £102m write-down on asset values.
For more information on this airport news story visit: http://www.liverpooldailypost.co.uk/ldpbusiness/business-local/2012/02/23/liverpool-john-lennon-airport-doubles-earnings-99623-30385374/#ixzz1nUBCosp7
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