No Mr Wombat, you are right to be sceptical. The Audit Scotland report is already out of date. Its main conclusion (that the Government loan is likely to be repaid) was based on an assumption that passenger traffic would recover. However, things have in fact gone backwards rather quickly.
Inexcusably, the report did not look at any scenarios involving a further decline in traffic, beyond stating that the airport is not viable without passenger traffic. This last statement is interesting, as there has been some suggestion (including on this forum) that PIK might be able to keep going on the basis of its non-pax activities.