Scotland's regional airline Loganair generated a profit of £6.9 million ($8.7 million) for the financial year ending March 31, 2024, it reported on December 12, 2024. It is a dip from pre-tax profit of £10.9 million ($13.8 million) a year prior.
The regional airline had completed its fleet transition to ATR in January 2024 after retiring its last Saab 340 in its fleet. Loganair said the aircraft is more attractive to customers and allows for additional seats, allowing the airline “to continue stimulating more tourism into the islands and across Scotland”.
“Despite the headwinds caused by supply-chain problems, operational disruption, and inflationary pressure in 2023, Loganair generated a healthy return in the financial year,” said Loganair CEO Luke Farajallah.
Farajallah said the year had been “challenging” and said the results “reflect an environment” of industry challenges.
With the fleet transition complete, the airline is focussing on improving operational performance and reduce costs for the current financial year.
“Our aim going forward is to build on the positive trends seen in 2024 and to set solid foundations for the next phase of growth for the airline,” continued Farajallah.
The Loganair boss said he is “confident” that its future financial performance will reflect the improvements made to the regional carrier.
Loganair had entered into a partnership with Swedish hybrid-electric aircraft developer Heart Aerospace in September 2024. The airline is looking to establish use cases for the 30 passenger seat aircraft for Loganair's Scottish and UK network.