Originally Posted by
asdf1234
The interim results make for interesting reading. The 12 month loss before tax for the Aviation division is £3.2m and the revenue per passenger is stated as £22.67 with a 12 month throughput of 991,000 pax.
If the new deal with CityJet achieves it's full potential of 600,000 pax the resulting PROFIT from those operations will need to be near to £18 per pax to see a breakeven position for the Aviation division.
That means that whilst currently every pax delivers a £3.21 loss, the new CityJet paxs (all 600,000 of them) will have to deliver £18 per head profit.
I can't see that happening so for the foreseeable the airport continues to operate at a loss.
I haven't had time to read the report in detail yet, however from your quote I would presume the 'aviation division' encompasses Carlisle which could account for that loss figure. As I understood it Southend, on day to day operations at least (I'm not sure where servicing the debt is factored in) will turn a small profit at the end of the financial year.