London City Airport (LCY) has recorded its first profitable year of operations since before the COVID-19 pandemic. Financial accounts filed by the airport’s owners show that the gateway made a pre-tax profit of £6.6m ($8.64m) in 2023, returning the airport into the black for the first time since 2019.

The airport, located in former docklands in East London around ten miles from the city center and just seven miles from the Canary Wharf financial district, has struggled to return to profitability since the pandemic although traffic numbers at the facility continue to rise. In 2019, the airport recorded a profit of £47.8m ($62.6m). However, in the years since, the positive results disappeared, largely in part due to the pandemic and its resulting drop in business-related air travel.

In 2020, the airport lost £48m ($62.9m), in 2021 this reduced slightly to a loss of £45.5m ($59.6m). However, by 2022, the figure had been reduced further to a loss of just £1.1m ($1.44m). The filing of a profit of £6.6m is far from the airport’s heydays, the return into the red shows that the airport continues to travel in the right direction.

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