LLAL accounts to March 31st 2020 are now out. Confirmed that under a force majeure clause, the airport operator hasn’t paid a penny to LLAL since March 2020. That under force majeure, LLAL has to actually pay compensation to LLAOL by a future reduction in the concession fee and a possible increase in the length of the concession.
That despite operating normally until the last couple of weeks in March 2020 and despite turnover increasing from £46.6m to £55m, LLAL made a loss of £3.3m after tax.
Now next year's report will make for an interesting read.