Edinburgh Airport: Profit soars as passenger numbers near pre-pandemic levels
Edinburgh Airport has seen profit soar for the second year in a row after passenger numbers rose to within touching distance of their pre-pandemic record.
The Scottish airport posted a pre-tax profit of £121.7m for 2023, up from £106m the previous year, while turnover hit £280m – an increase of almost £100m on the year before, according to newly-filed accounts.
The airport also celebrated a huge influx of passengers, with 14.4 million people using the airport over the 12-month period.
This was around 98 per cent of its figures in 2019, which was a record-breaking year for the airport, with bosses hailing the period “an almost full recovery” following Covid-19.
In its accompanying report published on Companies House, the airport said: “The airport’s recovery from the pandemic has been more rapid than anticipated with 2023 passenger numbers almost fully recovered on 2019 levels.
“The volume recovery was particularly strong in the second half of the year where passenger numbers exceeded 2019 levels.
“The recovery has been led by strong demand for leisure and international travel, particularly long-haul.
“The airport’s focus for 2024 is sustainable growth. There are several pivotal projects already in progress and expected to commence, which will facilitate the airport’s ability to deliver this growth.”
To meet growing demand for overseas flights, Edinburgh Airport added 12 new routes to its offering, including British Airways flights to San Sebastian and Olbia, and Jetblue flights to New York City and JFK Airport.
The financial come after the majority shareholder in Gatwick Airport, Vinci, snapped up a 50 per cent stake in the Scottish airport for £1.27bn in April 2024.
The remaining 49.99 per cent continues to be held by Global Infrastructure Partners, which has owned the airport since 2012.
As well as London Gatwick, Vinci also has a majority stake in Belfast International, which it acquired in 2018. It also has a portfolio of more than 70 airports across the world.