Airport’s profits soar after record passenger growth

Birmingham Airport’s soaring passenger numbers have been matched by record profits as the airport continues to reach new heights.

The airport now welcomes 1m passengers each month on average, up more than 30% in the last three years.

The Airport’s latest financial figures have revealed that its financial performance has also delivered strong growth. Pre-tax profits were up 52% to £38.1m in the year to March, which built on a 55% increase achieved in the previous year.

Revenues have grown strongly, rising 12% to £145.8m – and up by more than £30m since 2014.

The performance will also directly benefit seven local authorities as together the West Midlands District Councils own 49% of the airport. They received a dividend of £15.0m during the year.

The Airport is currently searching for a new chief executive after Paul Kehoe left in July after nearly nine years in charge, and weeks after being awarded a CBE in the Queen’s Birthday Honours.

Its board acknowledged his “tremendous contribution” in its annual accounts, highlighting that under his leadership “the Airport has built relationships with new carriers, grown passenger numbers to more than 12m, and delivered significant economic value to the region”.

Birmingham Airport has achieved six consecutive years of passenger growth, and its 14% growth was more than double the UK average.

New routes and increased frequencies from Ryanair boosted its low-cost sector, which was also helped by strengthened operations from Wizz Air and Vueling.

A greater number of flights to the Middle East, by Qatar Airways and Emirates, helped the long haul sector to achieve double-digit growth.

It expects the growth to be maintained, following British Airways’ return to the Airport in May. Jet2 has added 18 routes in this financial year, with Monarch and BMI Regional also adding flights.

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