Scottish airline Loganair has defied the gloom surrounding the airline industry and posted a 24% increase in profits.
The group today reports a pre-tax profit of £4.36million for the year ended March 31 2013 – up from £3.5million the previous year. Turnover increased by 20% to £87million, and there was a 12% increase in passenger numbers to a new record high of 591,995.
Loganair – which flies out of 10 airports in the Highlands and islands plus Aberdeen and has a franchise from Flybe – was boosted by the grounding of the Super Puma EC225 helicopter fleet.
The problems, from late 2012, led to huge demand for fixed-wing support to the UK offshore sector.
Executive chairman David Harrison said: “Our good trading results mean that our financial position has been further strengthened, so that we continue to operate without debt.
“It is further encouragement that the new financial year has started well, with passenger numbers in the Highlands and Islands and beyond showing some growth.
“There is also a healthy level of charter work being maintained, an area which has continued to make an important contribution to the business.
“The temporary grounding of part of the North Sea helicopter fleet from late 2012 has led to an increased requirement for fixed-wing support to the UK offshore sector.
“We’re hopeful that this will lead to longer-term opportunities from Aberdeen.”
It operates 26 aircraft, and recently announced that three 50-seat Saab 2000s will be introduced for the 2014 summer schedule between Aberdeen and Shetland, increasing capacity by 51% and helping meet increased demand.
Three of Loganair’s Public Service Obligation (PSO) services which fell for renewal on March 31 were successfully retendered – the Twin Otter services from Glasgow to Barra, Campbeltown and Tiree for two years, the Stornoway to Benbecula Saab 340B service for four years and the Orkney inter-isles operation with Islander aircraft for three years. The last continues an unbroken service on Orkney of 46 years.
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