Teesside Airport's 'future bright' despite financial loss

Teesside International Airport recorded a loss of more than £11.7m in the past financial year, latest figures show.

However, the results are £2m better than the £13.8m loss the previous year, when passenger numbers were badly hit by lockdowns and travel restrictions.

In 2021-22 there was an increase in turnover from £4.8m to £7.6m, but this was offset by a rise in operating costs.

Tees Valley Mayor Ben Houchen said the overall loss was less than expected.

The Local Democracy Reporting Service said the figures were released as part of an investment plan set to be approved at a meeting next week of the Tees Valley Combined Authority (TVCA), which aims to plough another £20m into the site.

Officials say the money will cover losses, help create new jobs and help bring in new flights.

The airport was granted a £10m bailout by TVCA cabinet members in July 2021 to cope with Covid pressures.

Tees Valley Mayor Ben Houchen said Covid "wasn't part of anyone's business plan" - but still believed the site's future was bright.

He said: "We're speaking to a number of airlines to get more holiday flights to the airport and I'm expecting a few popular routes to be landing next summer."

He described the 2021-22 losses as £5m less than they expected, and when asked if it was time for the TVCA to cut its losses and get out of the airport, he said it would be "the worst time".

He added: "It's never really had the chance - even during that time [during the pandemic] we've added more flights, jobs and businesses.

"The next two to three years is the key phase.

"We've got to hit those targets because, touch wood, there will be no more pandemics. The next two or three years will be the litmus test for Teesside Airport."

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