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Loganair returns to profit
Regional airline Loganair returned to profitability in the financial year to 31 March 2022, the year it celebrated its 60th anniversary.
The Glasgow-based company posted a profit before tax of £4.98 million on a turnover of £161 million, following losses in each of the previous two years due to the Covid-19 pandemic.
In the same year, Loganair became the UK’s third busiest airline behind British Airways and easyJet when measured by the number of flights operated.
Despite reduced passenger volumes during the early part of the year, the airline carried more than 910,000 passengers and in 2022, experienced its busiest summer to date.
It highlighted the important role of its charter and contract operations.
It expanded its contract work in support of the energy industry at Aberdeen and now counts several major football and Rugby SuperLeague teams amongst its client base for aircraft charter services.
Loganair also secured a new long-term, five-year contract from 1 February 2022 with Royal Mail to undertake its Highlands & Islands air services, delivering to Scottish islands by day and connecting to Royal Mail’s national network each night.
Four larger ATR72-500 Freighter aircraft have been introduced to replace Saab 340 Freighters for the new contract.
Jonathan Hinkles, Loganair’s Chief Executive, said: “The efforts of every member of Loganair’s team throughout the pandemic, and the diversified nature of our business, have enabled the airline to return to profitability far sooner than many of our UK airline industry peers.”
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