Glasgow Prestwick Airport has reported another year in the black, with operating profits hitting £1.9m.
The airport has seen growth year-on-year in both passenger numbers and cargo services, bringing the fifth consecutive year of improving financial results - and the third year in a row of making a profit.
For the 12 months to this March, revenue came in at £34.2m, while pre-tax profit was £1.2m.
Cargo volumes rose by 36% to 18,000 tonnes, while passenger numbers more than doubled to 118,000. Refuelling was up 89% to 36 million litres, with the value of fuel sold - at £20.8m - making up the bulk of the airport's revenue.
The Ayrshire-based site has been in public ownership since 2013, when the government paid £1 to keep it from administration. It still owes the taxpayer around £43m, but it has not drawn down new loan funds for three years.
Prestwick did not receive support during the most recent financial year and does not expect to need any in the current 12 months.
During the year, it supported the NHS vaccine programme and delivered the safe arrival and departure of 30 heads of state to COP26.
Chief executive Ian Forgie said: “The board and I are pleased with another year of good performance in difficult economic conditions - and pay tribute to all our staff who made it happen.
“With the full support of the Scottish Government, the new board is focussed now on building Prestwick’s core strengths and investing for the future.
“Our masterplan is looking afresh at growth opportunities in cargo, expanding aircraft maintenance and training facilities, the spaceport programme and delivering our sustainability strategy ambitions.
“All of this will take some time to deliver against the current stormy global economic backdrop and inflationary pressures,“ he added. “However, the progress made is there for all to see, our strategy is clear, and the future is looking bright for the airport.”
Prestwick Airport directly employs more than 300 people, supporting a further 1,700 jobs through its supplier network. A further 4,500 jobs are supported by the airport and the surrounding Prestwick aerospace cluster.
It claims to currently contribute £61.6m to the Scottish economy.
Don't miss the latest headlines with our twice-daily newsletter - sign up here for free.
