The owner of Southend airport is looking for further recovery in summer 2023 after airlines pulled out due to the pandemic.
EasyJet flights return this summer with routes to Malaga, Palma and Faro but Wizz Air and Ryanair have both withdrawn from the Essex airport.
Airport parent company Esken, which is due to issue financial results for the year to February 28 in May, also disclosed £48.6 million of outstanding liabilities payable through to 2024 associated with the liquidation of regional carrier Stobart Air, ongoing aircraft leases and related costs.
The aviation and renewable energy infrastructure group said in a trading update today (Tuesday): “It is encouraging that the majority of European travel restrictions have been lifted and airlines have been seeing an improvement in booking volumes for summer 2022, although the impact of higher fuel prices on both customer demand and airline flying capacity is currently unclear.
“London Southend airport is well positioned for the recovery and longer-term growth in air travel and, as volumes recover and more established London airports begin to face capacity constraints once again, London Southend airport’s London catchment area and strong transport links support positive growth prospects.
“Wizz Air recently decided not to restart its flights from one destination to London Southend airport for summer 2022. However, the airport will benefit from the return of EasyJet flights, with tickets already on sale for flights to Malaga and Palma, and flights to Faro were put on sale on 17 March 2022.”
Esken added: “The company continues to have active dialogue with a wide range of airlines with a focus on delivering the right airline agreements for summer 2023 onwards.
“While flying was constrained during the traditionally quieter winter period, the airport continued to benefit from global logistics income.
“Esken has maintained strict financial discipline, underpinned by £14.4 million of ring-fenced cash, which will be used to support the airport as it works toward a positive cash contribution.”
The airport handled 2.15 million passengers in pre-pandemic 2019, but numbers collapsed by 93% to just 147,000 the following year.