Cardiff Airport makes 6.63 million loss last year

Cardiff International Airport made a loss of £6.63 million last year, according to accounts.

The board, put together by the Welsh Assembly have said that its performance had been good, improving over recent years. The loss is due to efforts to transform the terminal and bring in new airlines.

Board chairman Roger Lewis described it as a “transformational” year which had included significant investment.

By using a slightly different measure for performance, the airport is actually back in profit for the first time. This measure shows a small profit of £7,000, up from a large loss of £890,000 last year.

The airports director has said that this measure is important. As it will herald the moment the airport starts to repay its loans to the Welsh Assembly.

During the financial year 2017-18 the Welsh Government put £6m into the airport in exchange for shares, and loaned it another £5m.

Cardiff Airport now owes the Welsh Assembly just over 30 millions, which needs to be repaid over a 20-year period.

The airport’s overall assets are valued at £68.7m, including £13.1m of “intangible” assets.

A statement from the airports has said that it has invested in improvements to the terminal this year. This includes new food and drink facilities, plus more shops and a better visitor experience. They have also launched a new meet and greet parking facility.

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