Airport setback

Prestwick withdrawn from market as sale talks end

Prestwick Airport

Airport made a small profit

Prestwick Airport has been taken off the market after the Scottish Government ended talks with a potential private buyer.

The airport, which has delivered an operating profit before exceptional items of £500,000, will focus increasingly on cargo to maintain a revenue stream in light of pandemic pressures on travel.

Chief executive Ian Forgie said “The future of the airport is significantly brighter now than it was five years ago. However, we are realistic that the short-term outlook remains tough with headwinds continuing to impact travel and global supply chains.

“The Scottish Government has restated its long-term commitment to return the Airport to the private sector and having carefully considered bids received under a recent sales process have decided not to proceed with a sale at this time.”

The business has shown a steady improvement in performance since the 2016/2017 accounts when operating losses stood at £7.8m. This has allowed the business to recognise underlying asset value in line with accounting standards by reversing previous non-cash impairments.

Leave a Reply

Your email address will not be published. Required fields are marked as *

This site uses Akismet to reduce spam. Learn how your comment data is processed.