Exeter Airport has returned to profit for the first time since the pandemic on the back of continued passenger growth, with numbers up 8% year-on-year.
In the 12 months to the end of March 2024 the airport recorded a profit of just over £1m, representing a £2m turnaround on the year before. Passenger numbers stood at 435,000, up 8% on the previous year’s 402,000.
Further growth is expected following the launch of a new Ryanair service to Palma in Majorca in May this year.
Meanwhile TUI, the airport’s biggest operator, has already confirmed that it will base a second aircraft at Exeter Airport next summer. This will provide an extra 80,000 seats including a new route to Ibiza and more flights to a range of popular sunshine destinations including the Canaries, Greek Islands and Turkey.
The figures contributed to a 15% increase in passenger numbers for parent company Regional & City Airports (RCA), which saw more than 1.75m passengers use its airports during the year.
The group also owns Bournemouth and Norwich Airports and holds a management contract for Solent Airport.
As well as providing passenger services to 25 UK and international destinations, Exeter Airport continues to play a key role in supporting the region’s wider aviation ecosystem with pilot training, military operations and the maintenance, repair and overhaul of aircraft. The airport directly employs 275 people.
It is also pioneering research into sustainable aviation, working with TUI and Cranfield University on a project to decarbonise aircraft turnaround operations as part of its commitment to achieve net zero by 2040.
Exeter Airport managing director Stephen Wiltshire said: “Returning to profitability is a significant milestone for Exeter Airport and a clear sign of our resilience and the continued demand for air travel in the South West.
“The growth in passenger numbers and the addition of new routes underscore our commitment to providing more choices and better connectivity for the region, supporting hundreds of skilled jobs as a major aviation hub.”
To view the full Exeter Airport schedule see here.
