Newcastle Airport has posted rising revenues as it targets significant growth in coming years.
The airport – holiday period – has published accounts for 2024 which show passenger numbers reached 5.21m, up from 4.88m a year earlier. The boost came on the back of a fifth aircraft with Tui and the return of scheduled flights to pre-pandemic levels.
Total revenue at the airport grew 13% to £89.5m, while operating profit also jumped 13% to £38.5m. A report within the accounts signed off by the board highlights traffic revenue increases of 19%, and a 12% rise in income from commercial activities, boosted by the extension of the departure lounge, the opening of a number of new food and drink outlets and the redevelopment of the airport’s executive lounge for travellers.
The commercial income includes revenue from the airport’s shops and catering facilities, which are run as concessions with third party operators and car parking. The airport highlighted how further growth in passenger numbers has been expected this year on the back of budget airlines adding capacity, including Eurowings’ flights to Berlin and Norwegian’s route to Copenhagen and easyJet’s addition of Amsterdam and Paris routes.
It also highlighted how investment to boost its facilities and the customer experience will continue, with the refurbishment of a number of drinking and dining venues and retail outlets. The accounts say: “Significant investment will take place in 2025/26 to extend the International arrivals hall and the long stay car park. The runway rehabilitation project will be completed in the first half of 2025.
“There will be a continued focus on sustainability projects to deliver the airport’s Net Zero 2035 target, supported by the Green Loan secured as part of the 2022 banking package. During 2025 we will explore the potential for further phases of the solar farm. The long-term outlook for the business remains positive.”
During the year the group won three awards, including the overall Best Airport in the World award at Routes World, and Star Ƶ Airport at the Star Bulletin Awards for a third year running. It was also named Ƶ & Ireland Airport of the year at the Travel Industry Awards by trade website ttg.
Following publication of the accounts, a Newcastle Airport spokesperson said: “Capital investment at Newcastle Airport increased to £18.4m in 2024, paving the way for a strong 2025. The airport is on track to welcome 5.4m passengers this year, supported by ongoing investment from airlines to provide more low-cost flights and package holiday options.
“This year saw Eurowings launch a new route to Berlin, new airline partner Norwegian began operating flights to Copenhagen and easyJet expanded its network, including new services to Amsterdam and Paris.
“Ryanair will also base a third aircraft at the airport this winter, providing 120,000 additional seats and five new routes. Alongside airline growth, the airport has continued to invest in its facilities, refurbishing shops, bars and restaurants in the departure lounge and completing its £16m runway resurfacing project.
“Looking ahead to 2026, further investment from the airport and its airline partners, including easyJet opening a new base in spring with 11 new destinations, will deliver even more new routes and support continued passenger growth.”
The airport last month published its new 15-year masterplan, in which it reveals plans to extend its runway and create hundreds of new jobs over the next 15 years. It wants to almost double its passenger numbers to nine million a year by 2040, which would see it plough £1.9bn each year into the local economy and employ more than 5,000 staff, up from the current 3,200.
Last week also saw budget carrier Ryanair introduce five new winter destinations from Newcastle Airport following its decision to station a third aircraft at the North East hub.
