Scotland-based Loganair has released its audited accounts for the financial year ending 31 March 2023, posting a profit for the second year in a row, helping to restore the airline’s balance sheet following the pandemic. The Glasgow-based company reported a profit before tax of £10.9m. This compares with £4.98m the previous year.

Luke Farajallah, CEO, Loganair, said: “It’s encouraging to see we achieved further strong growth in our financial accounts to March 2023, ensuring we can continue to operate lifeline services sustainably and on a year-round basis.

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“Whilst the result to the end of March 2023 looks encouraging, it will not be lost on anyone that the current financial year, that will finish at the end of this month, has been one of fleet transformation, operational challenge and inflationary pressures – the latter of which is affecting businesses across Scotland and the UK. We are absolutely committed to building resilience and enhancing our performance for our customers, meaning our future results will reflect the significant investment being made.”