Teesside Airport returns to profit

In the black apparently. Surely that's stretching things?

A quick google:

''The phrase “in the black” refers to being financially solvent or profitable, or sometimes more generally, just not in debt''
 
The thing with Ben is that once its obvious that it isn't profitable he will both say that he never said it was and blame others for it not working.

The last 2 months of reporting, April and May, passenger numbers are slightly down, year on year.

Newcastle and Leeds-Bradford both up.
 
Paintolerance said:
This doesn't present a rosy picture

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So not breaking even and needing to take more debt on to meet running costs. The loan facility will run to 2029 and repayments can be called "on demand"

As far as I can tell 65 million quid that could have been spent on much needed infrastructure/youth services/ect is being thrown at a loss making company (loss making for several decades) and the loan can be recalled at any time which would render the airport completely bankrupt. Have I missed anything here?

Please tell me again how the article was factual? And how this project is a benefit for our area?
 
JonnyHistory said:
So not breaking even and needing to take more debt on to meet running costs. The loan facility will run to 2029 and repayments can be called "on demand"

As far as I can tell 65 million quid that could have been spent on much needed infrastructure/youth services/ect is being thrown at a loss making company (loss making for several decades) and the loan can be recalled at any time which would render the airport completely bankrupt. Have I missed anything here?

Please tell me again how the article was factual? And how this project is a benefit for our area?
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Stop talking Teesside down etc
 
JonnyHistory said:
So not breaking even and needing to take more debt on to meet running costs. The loan facility will run to 2029 and repayments can be called "on demand"

As far as I can tell 65 million quid that could have been spent on much needed infrastructure/youth services/ect is being thrown at a loss making company (loss making for several decades) and the loan can be recalled at any time which would render the airport completely bankrupt. Have I missed anything here?

Please tell me again how the article was factual? And how this project is a benefit for our area?
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That's pretty much my take on it regards the finances. Wholly reliant on its funder.
 
It just needs more flights and destinations for it to do well. It's pretty smart inside now and the 3d scanners make it very quick to get through security. I don't understand why so many local people don't want it to do well. Small town mentality as always I guess.
 
Loop said:
It just needs more flights and destinations for it to do well. It's pretty smart inside now and the 3d scanners make it very quick to get through security. I don't understand why so many local people don't want it to do well. Small town mentality as always I guess.
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I have never seen a single person wanting it not to do well.
There are just people who will point out when it's not, which some people will try to spin as unjustified negativity.

I would absolutely love to go on every single holiday I have from Teesside Airport, but I'm not a wealthy person and it's far cheaper to go to Manchester or Newcastle and travel home than it is to fly from Teesside.
I'm sure the majority of people are thinking the same, which is why it's.still running at a loss.
 
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Loop said:
It just needs more flights and destinations for it to do well. It's pretty smart inside now and the 3d scanners make it very quick to get through security. I don't understand why so many local people don't want it to do well. Small town mentality as always I guess.
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Everyone wants it do well.

But for 3 decades all it has needed is just a few more routes and passengers and now the tax payer is propping it up to the tune of 65 million over the next 5 years.

Nothing to do with small town mentalities or wanting things to fail, its about what's best for the area and how best to spend what little resources we have in the North East. Why should we the tax payer be paying for a private companies losses? 65 million that could be spent directly on the population is being thrown at a failed business.
 
TeaCider said:
I have never seen a single person wanting it not to do well.
There are just people who will point out when it's not, which some people will try to spin as unjustified negativity.

I would absolutely love to go on every single holiday I have from Teesside Airport, but I'm not a wealthy person and it's far cheaper to go to Manchester or Newcastle and travel home than it is fly from Teesside.
I'm sure the majority of people are thinking the same, which is why it's.still running at a loss.
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A train and metro to Newcastle airport is cheaper than a taxi from town to Teesside airport. By car its another 30/40 minutes to Newcastle than to Teesside airport.
There is a rail stop near the airport but is one of the most underused stops in the entirety of the UK and I think less than 6 trains stop there a year if I remember correctly. The whole thing is a joke and yet again the tax payer is paying for the folly of private enterprise and I am sure lining one of Bens mates pockets in some way. How much of tax payers money is too much for this? If it was a publicly owned you could maybe make a case to keep funding it but in its current state as a private enterprise we may as are just throwing money into a pit.
 
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