New boss unconcerned about £1m monthly loss
20.07.08
Mike Morton, the new Robin Hood Airport boss, is confident of the hub's future despite it losing £1m a month and struggling to attract new routes, the Doncaster Free Press reports.
Reports of losses at the airport - the country's newest international hub - were confirmed by its new managing director, who took up his post last month. However, Mr Morton said that a financial deficit was expected during the airport's infancy and blamed the losses on the current economic climate. He said that he is not worried about the situation, insisting that the Peel Holdings-run airport is on course for long term success.
He told the newspaper: ‘I do not deny that we are losing around £1m a month. Peel has invested in the region of £150m to establish what we have here now. They were not expecting to make a profit in the first or second year. They are determined to make this airport successful, and it was never seen as a short term deal - they were always going to be in it for the long term.’
‘Revenues have been hit hard on the back of economic downturn and on the back of oil prices. It all adds to the pressures of the business.’
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