Stobart Group has laid out plans to grow its operations at Southend Airport to help solve the London airport capacity crisis.
It hopes to increase passenger numbers and attract more airlines to the Essex airport, which is already the UK’s fastest growing airport.
Passenger numbers grew 29% in 2017 to just over one million.
Newly-appointed chief executive Warwick Brady outlined the plans as the Stobart Group reported profit before tax to £100.6 million for the year ended February 28, compared to an £8 million loss in the previous year.
"Our strategy is based on unlocking the current London airport capacity constraints through our London Southend Airport by increasing passenger numbers and attracting more airlines as well as improving customer services by expanding our Aviation Services offering and, ultimately, building on our growing reputation," said Brady.
Its regional airline, Stobart Air, saw 9% increase in passenger numbers through ranchise and commercial agreements with Aer Lingus and Flybe.
Earlier this year, Stobart Group withdraw an offer for Flybe after the pair railed to reach an agreement.
