Tony Hallwood, the commercial director at Leeds Bradford International Airport has stated that the company is negotiating with new airlines about different potential opportunities just after upgrading the terminal for £11m. This was after releasing annual reports at Companies House where the airport is seen to have made a pre-tax loss in the financial year just ended following a number of one-off expenditures. He added that the company will constantly be improving its services to benefit passengers.
For the year ended March 31, 2013, the audited financial reports released by the directors at Leeds Bradford International Airport showed an earnings before interest, tax, depreciation and amortisation (EBITDA) amounting to £3.68m as compared to that made the previous year of £3.88m
The reports showed a £8.61m as the loss before tax, as compared to a loss of £8.08m that was made in the prior year that had net exceptional costs amounting to £400,000 relating to restructuring costs. The report showed that key developments had been made within the airport in the year ending March 31, 2013 with some of these including infrastructure enhancements, route developments and airline partner acquisitions.
The recent terminal development project was completed at an estimated cost of £11m to increase the terminal capacity to over 4million passengers annually. The expanded terminal will have a larger commercial space that can accommodate a brand new and larger duty & tax free shop. In 2012 December, British Airways started offering flights between Heathrow and Leeds Bradford. In the summer of 2013, the Monarch started operations in Leeds Bradford International Airport.
According to the report, all the developments within LBIA will see great improvements in 2013/2014. In a recent press release by Leeds Bradford, 3.3 million passengers had used the airport in 2013, which is an 11 pc rise from the prior year making the airport one of the fastest growing in UK. In the last 12 months alone, the airport has been serving over 70 international and domestic flights. It has been servicing Grenoble, Innsbruck, Zante and Split in 2013 alone. It will soon launch flights to the Scandinavian region.