I've been having a look through the PIK accounts. Turnover last year was £9m, vs costs of £14m, plus administrative costs of around £1.5m, giving a total £7m loss pre-tax.
So to break even, the airport needs to increase revenue by 77%, or slash costs by 64%. That's a tough ask!
Here's the breakdown of income by sector:
Passenger numbers are down from 827,000 to 624,000. From those figures, we can see revenue attributed to passenger ops (passenger + concessions + car parking) is approx £5.69 per passenger. You'd need to add another 1m passengers to cover that assuming costs don't increase proportionately.
Freight appears to be making £218 per tonne. So another 32,000 tonnes of freight needed to cover that shortfall.
Or a combination of both.
So quite a long way from profitability!
EDIT: For comparison, GLA reported revenue of £9.80 per passenger, of which £5.80 was aviation related, and £4 was retail. PIK managed £1.10 from aviation, with £4.59 retail / car parking.