Stobart trading update
Passenger numbers at London Southend Airport have increased by 42% in the six months to 31 August 2019, compared to the same period last year. This substantial growth was driven by the start of Ryanair flights in April, Loganair flights in May and the continued successful growth of easyJet. Access was further improved by the introduction of early and late rail services between London Liverpool Street and Southend Airport.
From October 2019, WizzAir will start flying from London Southend Airport, to three new destinations. These new routes will help support the continued growth in passenger numbers at London Southend Airport in line with the Group's target of reaching 5 million passengers per annum by February 2023. Given the ongoing uncertainty in the sector, in part caused by Brexit, the Group is taking a cautious approach to passenger forecasts in the short term, with the Board working on the basis of circa 2.3 million passengers for the year ending 29 February 2020. This would represent an increase of 53% versus the previous year.