Belfast International Airport has reported a significant increase in pre-tax profits, rising by an impressive 80%. This growth is largely attributed to the airport’s recovery from the Covid-19 pandemic and increased passenger activity.
Belfast International Airport Financial Highlights
In the fiscal year ending December 31, 2024, the airport achieved a turnover exceeding £65 million. This represents a substantial 22% increase from the previous year’s income of £55 million. The rise in turnover reflects a 13.6% increase in passenger numbers, climbing from 5.9 million to 6.7 million.
Key Financial Metrics
- Turnover: £67 million (2024) vs. £55 million (2023)
- Pre-tax Profits: £17.3 million (2024) vs. £9.5 million (2023)
- Operating Costs: £46 million (2024) vs. £44 million (2023)
- Employee Count: 200 (6% increase)
- Cash at Bank: £14 million (11% decrease)
Strategic Developments and Passenger Growth
The strategic report released alongside the financial accounts highlights the airport’s primary activities, focusing on operating and managing Belfast International Airport. Passenger volume remains the critical economic driver, affecting both traffic income and commercial activities, such as parking and concessions.
In 2024, the airport completed several capital projects aimed at improving facilities, including a terminal expansion and a new security building. Additionally, the introduction of advanced security equipment is expected to enhance passenger experience.
Future Outlook
The management anticipates continued growth, with passenger numbers expected to align with 2024 figures and surpass pre-pandemic levels by approximately 8% in 2025. This optimism is fueled by the airline industry’s recovery and the introduction of new aircraft.
Risks and Challenges
The directors have acknowledged various risks that could impact operations, such as fluctuations in demand and potential global economic issues, including new tariffs among major economies. Despite these challenges, the overall outlook for Belfast International Airport remains positive as it continues to adapt and grow in a post-pandemic environment.
