Loganair profit down

Tuesday, 16 Dec, 2024 0

Regional airline Loganair posted a profit of £6.9 million for the financial ending March 31 2024.

While it continued a positive financial trend, Loganair says it highlights ongoing challenges experienced by the airline in 2023.

The profit is down by more than one-third

This is especially in relation to operational performance, as it completed its fleet transition programme.

Loganair flies 36 aircraft across over 60 routes.

In the year to March 2024 the airline carried over 1.5m scheduled passengers, as well as operating charter services for the oil & gas industry, and a multi-year contract with the Royal Mail

Loganair completed a fleet transition to ATR and retired its last Saab 340 in January 2024.

Luke Farajallah, CEO, Loganair, said: “Despite the headwinds caused by supply-chain problems, operational disruption, and inflationary pressure in 2023, Loganair generated a healthy return.”

“This ensures we continue to operate sustainably, that we have the means to continue investment into our fleet and deliver crucial regional and lifeline connectivity.

“Our focus in 2024 has been to improve operational performance, and reduce costs including those associated with flight disruption. I am pleased to report that the business has responded very well to the changes introduced.”

TravelMole Editorial Team

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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