Originally Posted by
LGS6753
The BBC article says that a positive EBITDA has been achieved for the first time in 8 years. For the uninitiated, EBITDA = Earnings Before Interest Tax Depreciation & Amortisation. Any business that struggles to achieve a positive EBITDA is a basket case (unless it is in a massive growth phase, which CWL isn't).
So for 8 years Welsh taxpayers have been funding a business that makes no profit, pays no (corporation) tax, can't pay interest on its debts, and is making no contribution to renewing its assets. If I was a Welsh taxpayer, I would be unhappy, to say the least.
Except that they bought it in 2013 so 3 of those years were under Albertis. The airport has essentially been recovering from their ownership.