Margins improve as revenues rise at Belfast City Airport

Airport CEO Brian Ambrose
Airport CEO Brian Ambrose

Turnover at Belfast City Airport grew to £21,150,000 in 2016, although operating profits fell by nearly £200,000 from £2,919,000 in 2015 to £2,743,000.

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

“Both operating profits and passenger numbers remained relatively steady in 2016 while turnover marginally increased,” said chief executive Brian Ambrose.

“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.”

Due to the impact of a restructuring of debt in 2015, the airport incurred interest payments of £3,432,000 in 2016 and losses before tax of £689,000 for the year,though Mr Ambrose highlighted the completion of the takeover by 3i in June of this year.

“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.

“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.”