LJLA sales and profits reach new heights as post-pandemic recovery continues
Liverpool John Lennon Airport (LJLA) has reported better revenues and profits for the year to March 31, 2024.
Accounts filed at Companies House show a turnover of £41.621m, up from £35.659m in 2023, and a pre-tax profit of £6.671m, which compares with £4.542m the previous year.
Profit after tax was £4.8m, down from £12.5m in 2023, which was due to a large tax credit in 2023.
Net assets have risen from £17.5m to £22.2m during the most recent financial year and its net current liabilities have fallen to £14.5m, down from £17m.
Passenger numbers during the year continued to improve and stood at 4.3 million by March 31, 2024, up from 3.8 million in 2023, which represents a 90% recovery compared with the 4.8 million throughput the airport handled pre-pandemic.
The airport virtually shut down for business in 2020 when international flights were grounded due to the Covid-19 outbreak.
Passenger traffic at LJLA was boosted by the city hosting the 2023 Eurovision Song Contest which saw an influx of passengers from across Europe for the musical celebration lasting almost two weeks.
The airport employed an average of 161 staff during the reporting period, up from 159 the previous year, although airlines, retailers and ancillary service providers employ hundreds more.
Current trading is expected to benefit from a big influx of holiday flights traffic following the launch of Jet2 and Jet2 Holidays operations in March this year, expected to drive passenger levels beyond the five million level.
The Leeds-based carrier and holidays group has already announced routes from LJLA for 2025 and 2026, due to the overwhelming response from its customers.
LJLA CEO, John Irving, said: “It’s great to be already looking forward to a third summer with Jet2.com and Jet2holidays operating from Liverpool.”
In September this year LJLA was named the UK’s best airport by consumer publication Which?’s annual survey, for the second consecutive year.
The airport’s parent company is jointly controlled by Peel Investments LJLA, and Snowball Holdings Bidco, who each hold a 47.1% stake, with Liverpool City Council holding the remaining five per cent.
