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Loganair narrows annual losses
Regional carrier Loganair narrowed losses to less than half compared to 2019/20 despite another year of severely disrupted operations.
It posted a pre-tax loss of £5.6 million for the year, in comparison to the £12.7 million loss before tax reported in 2019/20.
The airline’s passenger numbers fell from 1.05 million in 2019/20 to 252,259 in 2020/21, and turnover more than halved from £169 million to £81 million.
A combination of careful cost controls and flexibility to rapidly change its business model in the face of the pandemic led to a much-reduced pre-tax loss.
From 1 September 2021, all Loganair employees returned to full pay.
The airline has also continued with its fleet renewal programme, introducing two more ATR turboprop aircraft in October.
Carbon offsets for every Loganair flight were introduced from July 2021, and this measure has been positively received by key stakeholders and customers alike.
Chief Executive Jonathan Hinkles said: "Without doubt, the last year has been the most challenging in Loganair’s 59-year history. The fact that we’ve been able to weather the storm is entirely thanks to the dedication of our people. We believe Loganair is in the strongest position of any UK regional airline as we emerge from the pandemic."
The airline was one of few to fly every day throughout the pandemic, with its efforts ensuring that essential travel needs for communities in the Scottish islands, the Isle of Man and Northern Ireland were never interrupted.
Contracts to fly for major energy companies and to carry cargo and mail were also flown without interruption.
The airline even hired out a Loganair aircraft to act as an ‘extra’ in the filming of a Bollywood movie.
All of Loganair’s 42 aircraft are in service.
Several UK domestic routes, together with flights to Ireland and Denmark, suspended during the pandemic have all now been successfully re-opened – including 16 intra-UK routes formerly flown by Flybe.
Flights to Norway from Edinburgh, Newcastle and Shetland will resume in summer 2022.
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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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