Airport reports a profit for first time in 7 years

Teesside International Airport has reported a profit for the first time since coming back into public control

- BY GRAEME WHITFIELD

TEESSIDE Airport has reported its first profit since being brought into public ownership, thanks in part to a £10m Government grant.

The airport has released accounts for the year to March 31 which show that its turnover rose from £14.9m a year earlier to £16.9m.

Over the same period, an operating loss of £4.8m was converted into a profit of £6.3m. Passenger numbers came in at 226,400, though it is not stated whether this is an increase or decrease on last year.

Revenue figures in the accounts were boosted by a £10.1m Government grant. The accounts also show that the airport's liabilities have grown slightly to £119.3m, most of which is owed ultimately to the Tees Valley Combined Authority.

The airport's move into profit has been welcomed by Tees Valley mayor Ben Houchen, pictured right.