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Loganair reports £10.9 million profit for last financial year

Loganair Embraer E145

Loganair Embraer E145

Leading regional airline Loganair (LM/LOG) has posted a £10.9 million pre-tax profit for the last financial year, the second year in a row the airline has posted a significant profit.

This years profit is up from £4.98m in 2021/22 demonstrating the Glasgow, Scotland based airlines continued growth.

Luke Farajallah, CEO, Loganair, said: “It’s encouraging to see we achieved further strong growth in our financial accounts to March 2023, ensuring we can continue to operate lifeline services sustainably and on a year-round basis.

“Whilst the result to the end of March 2023 looks encouraging, it will not be lost on anyone that the current financial year, that will finish at the end of this month, has been one of fleet transformation, operational challenge and inflationary pressures – the latter of which is affecting businesses across Scotland and the UK. We are absolutely committed to building resilience and enhancing our performance for our customers, meaning our future results will reflect the significant investment being made.”

Loganair has recently announced a raft of new routes and increases in its schedules, including at London Heathrow which gets additional services include a third weekly flight to Sumburgh in the Shetlands, a second Saturday service to the Isle of Man, a third Sunday flight to Derry.

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