Profits fall at Desmond-owned airport

PROFITS at the Dermot Desmond-owned London City Airport dropped last year as passenger traffic through the facility remained flat.

For the year to December 31 2002 London City Airport recorded pre-tax profits of stg£6.04 million (€8.6m), down from stg£6.7 million in 2001, according to documents obtained from the Companies’ Office in London.

Turnover for the year was flat at stg£31 million, (€44.2m) although there was a £0.5m fall in revenues from airport charges.