Teesside Airport bosses say they are “optimistic” about the industry’s recovery from the pandemic, after latest figures showed narrowing financial losses.
The airport today released its accounts for the year to March 31, 2020 which showed a pre-tax loss of £1.7m compared with £5.7m the previous year as it benefited from a revaluation of its investment properties.
And while the impact of covid remains an “unknown” for 2021, Tees Valley Mayor Ben Houchen says he is confident the airport can “survive it and be a success”.
Revenue for the airport remained roughly the same at £7.7m in 2020, while passenger numbers were slightly up compared with the previous year, at 139,448.
The results cover the very early stages of the covid-19 pandemic, which will also have a major effect on the current financial year.
However the vaccination roll-out and a string of carrier sign-ups and renewed contracts in 2020, including a seven-year contract with Ryanair for Alicante and Palma flights, has added to…