Scottish regional carrier Loganair is highlighting operational disruption and supply-chain issues after it turned in a lower full-year profit.
The carrier says its profit for the 12 months to 31 March 2024 reached £6.9 million ($8.7 million), compared with the £11 million pre-tax and £10.2 million net recorded for the previous year.
Loganair says the performance continues a “positive financial trend” but admits it illustrates “challenges” experienced by the carrier, which invested heavily in a fleet transition during the period, shifting from Saab 340s to ATRs.
The airline, which operates 36 aircraft, transported 1.5 million scheduled passengers over 2023-24.
Loganair chief Luke Farajallah says the financial year’s results “reflect an environment where many, often industry-wide, obstacles had to be overcome”.
But he says that, following the fleet renewal, the carrier’s focus is to improve operational performance and reduce costs, including those relating to flight disruption.
“The business has responded very well to the changes introduced,” says Farajallah. “We have seen a dramatic reduction in delays and cancellations and their associated costs.”
He states that the carrier generated a “healthy return” over the year despite supply-chain issues and inflationary pressures.
“I am confident that future financial performance will reflect the various changes and interventions being made, and that our investors, employees and customers can look forward to a bright future,” he adds.
