Glasgow Prestwick Airport reports another profitable year in challenging economic conditions

Monday 20 November, 13:23 Europe/London
  • Glasgow Prestwick Airport has demonstrated its key strength in offering a diverse range of services to different markets and has returned a steady operating profit of £2.1m.
  • This is the fourth consecutive year in profit and continues the positive trajectory of the group over the last five years.
  • The last 12 months has been challenging economically with the impact of Brexit on the UK labour supply and a fall in anticipated cargo volumes. However, the Airport was able to adapt and recruit, with staff working hard to deliver a safe, secure and efficient service with passenger numbers substantially up on the previous year.

Commenting on the 2022/23 accounts, the Airport’s CEO Ian Forgie said: “The Board and I are pleased with another year of good performance and thank all our staff who made it happen. We are also pleased to confirm a new five-year agreement with Ryanair and we look forward to working with them to grow passenger services. The Airport remains an important base for Ryanair with an Aircraft Maintenance, Repair and Overhaul facility on site employing over 500 people.

“The Board is focussed on growing our cargo business and we will continue to invest in equipment and expand our facilities to meet demand, building on Prestwick’s reputation for fast, efficient and well connected 24/7 cargo services.

“Glasgow Prestwick continues to provide excellent service to military customers with most nations operating aircraft using our facilities, including the Royal Canadian Airforce which recently celebrated its 80th anniversary of its connection with Prestwick.

“The Airport is also well on its way to achieving its target of 50% percent carbon reduction by 2030,  and we are also working on supporting the change to sustainable aviation fuel (SAF) to establish the Airport as a key supply point for SAF in Scotland.”

Chairman of the Board, Forsyth Black, commented: “Together with the Executive, the Board has charted a path towards a new strategy, built around strong commercial principles and financial discipline. “Our Shareholder, the Scottish Government has a long-term stated aim of returning Glasgow Prestwick Airport to private ownership and the Board is of the firm belief that in order to so at the greatest benefit to the Scottish taxpayer, it ensures that the business is set up the best it can be for a bright future.”

“I am pleased to report there are many other strands to our growth plans that are taking shape behind the scenes, and I look forward to reporting future growth and progress in years to come”.

Glasgow Prestwick Airport Stakeholder Statement 2023 can be accessed here.