Glasgow Prestwick Airport

Glasgow Prestwick Airport’s losses increased as the number of flights reduced due to decrease in passenger traffic.

For the year ended 31 March this year, the Scottish Government-owned airport reported pre-tax losses of £8.9m, compared to £4.6m posted for the year-ago.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

TS Prestwick Holdco, the company established to acquire the airport on behalf of Scottish ministers, estimates that the transfer of some Ryanair flights to Glasgow Airport could severely hit Glasgow Prestwick’s performance in the current financial year.

"We safeguarded 3200 jobs and secured a vital infrastructure asset that contributes more than £61m annually to the Scottish economy."

Prestwick Airport CEO Iain Cochrane said: "Following another challenging year, the airport continues to work to turn around the financial performance and there are promising signs in a number of areas, though growing the passenger business remains a challenge whilst air passenger duty exists at its current level.

"The airport is a frontrunner in the process to become the first designated UK spaceport and is continually looking for opportunities to maximise both income and the broad scope and opportunity offered as a strategic national asset."

The airport’s loan from the Scottish Government has also increased from £4.5m at the end of March last year to £10.8m at March 31 this year.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

In 2013, the Scottish Government acquired Prestwick Airport from New Zealand-based Infratil for a nominal consideration of £1, bringing the airport into public ownership.

Scottish Government spokesman said: "By stepping in to save the airport, we safeguarded 3200 jobs and secured a vital infrastructure asset that contributes more than £61m annually to the Scottish economy."

Image: The Scottish Government acquired Prestwick Airport in 2013 for £1. Photo: courtesy of Raymond Okonski / Wikipedia.