Loganair, the UK’s largest regional airline, has reported a £6.9 million profit for the financial year running from April 1, 2023, to March 31, 2024. This marks another successful year of profitability for the airline, although the results reflect a series of challenges, particularly related to operational performance and its ongoing fleet transition.
Key Financial and Operational Highlights
Loganair carried more than 1.5 million scheduled passengers throughout the year and continued to provide essential services, including charter flights for the Oil & Gas industry and its long-standing contract with the Royal Mail. Despite external challenges such as supply-chain disruptions, operational difficulties, and inflationary pressures, the airline demonstrated resilience, achieving a solid financial return.
The airline employs over 850 staff and operates a fleet of 36 aircraft, covering more than 60 routes across the UK and beyond. For the financial year to March 2024, Loganair also completed a significant fleet transition, retiring its last Saab 340 aircraft and replacing it with larger, more modern ATR planes.
Fleet Renewal and Customer Experience Improvements
The fleet transition to ATR aircraft is a significant move aimed at improving the overall passenger experience. The new ATR planes are quieter, provide more spacious cabins, and have larger overhead lockers, ensuring better comfort for passengers. Additionally, the aircraft’s increased seating capacity allows Loganair to serve more customers, particularly boosting tourism to the Scottish islands.
CEO Luke Farajallah commented on the challenges of the past year, highlighting the impact of supply chain issues, operational disruptions, and inflation. Despite these hurdles, the airline’s financial performance remained strong, enabling continued investment in both the fleet and customer experience.
Improving Operational Efficiency
Farajallah emphasized that, following the completion of the fleet transition, Loganair has focused its efforts on improving operational performance and reducing costs. These changes have already yielded significant results, with a notable reduction in flight delays and cancellations, which had previously incurred high operational costs.
The airline has also made improvements to its customer-facing services, including upgrades to aircraft cabins, enhancements to its website, and streamlining airport processes to ensure smoother travel experiences for passengers.
Looking Forward: Focus on Growth
Looking ahead, Loganair plans to build on the positive momentum from 2024 and lay strong foundations for future growth. Farajallah expressed confidence that the airline’s ongoing investments and strategic changes will contribute to even better financial performance in the coming years. With a renewed focus on operational efficiency and customer satisfaction, Loganair aims to continue offering vital regional connectivity while positioning itself for a bright future.
