Loganair posts pre-tax profit for second year running

Loganair has reported profit before tax of £10.9 million for the financial year ending March 31, 2023.

The Glasgow-based carrier has posted a profit for the second year in a row, backing up the pre-tax profit of £4.98 million in the financial year ending in March 2022.

Loganair chief executive Luke Farajallah said: “It’s encouraging to see we achieved further strong growth in our financial accounts to March 2023, ensuring we can continue to operate lifeline services sustainably and on a year-round basis.”

However, Farajallah, who succeeded Jonathan Hinkles in January, sounded a note of caution about the next set of financial results.

He said: “While the result to the end of March 2023 looks encouraging, it will not be lost on anyone that the current financial year has been one of fleet transformation, operational challenge and inflationary pressures – the latter of which is affecting businesses across Scotland and the UK.

“We are absolutely committed to building resilience and enhancing our performance for our customers, meaning our future results will reflect the significant investment being made.”

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