BA Cityflyer: Profit almost doubles at London City Airport carrier
Profit almost doubled at BA Cityflyer, the main airline operating from London City Airport, in 2024 despite falling passenger numbers.
The business, which is wholly owned by British Airways, has posted a pre-tax profit of £20.3m for its latest financial year, according to new accounts filed with Companies House.
The latest total comes after the firm’s pre-tax profit stood at £11.1m in 2023 and £4.3m in 2022.
The carrier has reported a pre-tax loss of £31.6m in 2021 and £60.3m in 2020.
However, the new results also show BA Cityflyer’s turnover fell over the same 12 months from £281.6m to £274.8m.
The number of flights fell in the year by 8.4 per cent to 30,500 while passengers also decreased by 1.6 per cent to 2.41m.
However, punctuality improved by 4 per cent to 77 per cent.
BA Cityflyer said it saw an increase in leisure and business use during 2024 “as greater demand and capacity returned compared to 2023”.
BA Cityflyer aims for ‘strong and stable’
On its outlook, BA Cityflyer said: “The company remains committed to operating a strong and stable schedule and delivering for its customers and colleagues, whilst managing its costs and operating safely and efficiently.
“The airline continues to transform and invest in its customers and colleagues and has made strong progress in 2024.
“The airline remains fully committed to reducing its environmental impact at every stage and continues to work at pace to create a better BA Cityflyer for everyone.”
Stake in London City Airport acquired
In October 2024, Morning Wire reported that London City Airport had returned to the black for the first time since the Covid-19 pandemic as passenger numbers continued to recover.
The hub posted a pre-tax profit of £6.6m for 2023, having made a loss of £1.1m in the prior 12 months.
London City Airport had last made a pre-tax profit when it reported a total of £47.8m in 2019.
Since then it lost £48m in 2020, £45.5m in 2021 and £1.1m in 2022.
The new results also showed that the airport’s turnover increased from £85.2m to £102.6m.
The airport’s accounts for 2024 are due to be filed with Companies House by the end of September.
, Macquarie Asset Management bought stakes in Bristol, Birmingham and London City airports.
Almost a year ago, the government granted London City Airport permission to expand capacity significantly.