Originally Posted by
Beafer
I wanted the airport to remain open, but reading the Companies House accounts for Teesside International Airport, the losses of £5.7 million before tax is something the bean counters will be worried about.
https://find-and-update.company-info...filing-history
The last "full accounts" dated 3rd January 2020 pdf download shown in the filing history, mentions on page 2 of the "Strategic Report" that there is a concern about the ongoing losses. The report was signed off by the board of directors.
KLM growth is also mentioned in the same report, but with covid that growth has stopped.
The Mayor may need a lot of government support for the airport, as the next accounts will probably show the ongoing millions in losses has grown. Who will pick up the tab is anyones guess?
Stobart may have other ventures to worry about, so the buck will stop at the Mayors door. The next Mayoral election may change everything again.
Good luck to the people involved in running the airport.
The last full accounts were filed on 30 January 2020 - they actually cover the year ending 31 March 2019 so are hardly up to date and remember that Peel controlled the company up until 15 February 2019. The profit figure to look at is the operating profit (loss) of £2.7m, not £5.7m - the £3m difference is a paper loss relating to write down of the value of property.