Prestwick Airport profits from military fuel sales

Military exercises and aid for Ukraine helped Prestwick Airport post a profit for the third year in a row. The Scottish government-owned airport saw fuel sales return to pre-pandemic levels in the year to 31 March, boosted by "strong" military aircraft movements. They included Canadian planes carrying supplies and weaponry to Ukraine after the outbreak of war in February. Sales of fuel over the year nearly doubled to reach 36m litres. They accounted for GBP13m of its GBP16m year-on-year rise in revenue, which reached GBP35m. Operating profit for 2021-22, before exceptional items, stood at GBP1.9m, while overall profit was GBP1.2m. The airport also recorded growth in cargo and passenger figures. Cargo volumes were up 38% year-on-year, peaking at more than 18,000 tonnes, while passenger numbers rose over the year from 47,000 to 118,000. The Scottish government took the airport into public ownership in 2013 and financially supports the business through the provision of long-term loan finance.<br/>