Birmingham Airport to finally shake off demise of Thomas Cook and Flybe

Birmingham Airport has said it is finally set to shake off the demise of Thomas Cook and Flybe as well as the impact of the Covid-19 pandemic.

The transport hub increased its passenger numbers to 98 per cent of pre-pandemic levels in 2023, up from 86 per cent in 2022, and is now forecasting it grow to close to its record year in 2017/18.

According to newly-filed accounts with Companies House, the airport’s turnover rose from £152.1m to £184.2m in the year while its pre-tax profit increased from £30.1m to £48.4m.

Birmingham Airport said its most popular destination in its year to 31 March, 2024, was Dublin, followed by Dubai, Amsterdam, Palma and Tenerife.

In the final year before the Covid-19 pandemic, Birmingham Airport reported a turnover of £59.5m and a pre-tax profit of £25.2m.

During the year the average number of people employed by the airport rose from 646 to 786.

The airport was hit by the collapse of Thomas Cook in 2019 and Flybe in 2020 while its growth was delayed by the Covid-19 pandemic.

Birmingham Airport banking on experience

A statement signed off by the board said: “Whilst direct impact on passenger demand has been limited so far, sustained economic challenges could eventually affect travel behaviour and uncertainty remains in the near term.

“Should the adverse factors have more impact in future, our experience of managing through the pandemic and other economic downturns should stand us in good stead to take appropriate actions with the cost base of the business.

“There are signs that inflation is normalising and the concern over the surge in inflation and the impact this could have on the pace of recovery of air travel is easing. This should allow for more sustainable growth.