It was revealed last week that South Yorkshire’s Robin Hood airport is losing approximately £1 m a month with politicians being urged to lend their support.
Airport officials are blaming the losses on a series of short-term hard hitting financial obstacles such as tax, fuel and security increases. Despite the momentous losses airport business leaders have expressed confidence that it is a temporary hitch, emphasising that whilst the airport is not making any money yet it is going in the right direction.
Nick Pakey, deputy chief of the Peel Group, who own a number of the country’s major airports, explained that because of huge investments early on in the airport’s development it would not be expected that the airport would be making money at this stage. That said, however, he did add that the current financial climate has hit the business hard and that the financial situation is worse than was originally predicted.
The Peel Group has invested £100 million in developing the regional airport and with over a million passengers a year they are confident that it has the potential for further growth. Over the last three years Robin Hood has become a busy regional airport and an important asset for Doncaster, providing services to over 40 destinations around the world. The airport recently received a further £10 million in Objective One Funding which is being used to develop industrial units at the airport’s business park. In addition, three business directors have been recruited to help the airport through the financial difficulties, with two directors specifically employed to develop the airline and cargo markets.