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Prestwick Airport's Government Debt Rises to £38.4M

January 01, 2019 / Douglas Fraser

The debt owed by Prestwick Airport to the Scottish government has risen in the past year from £30m to £38.4m. That was while revenue rose through a doubling of funds from refueling aircraft at the publicly-owned facility. Accounts lodged with Companies House show the holding company made a loss of £7.6m in the year to March, down from £8.6m the previous year. Revenue was up on the year from £13.6m to £18.2m. That included a £3m extra contribution from refueling, and a rise of £300,000 in cargo earnings, reaching £2.8m. The debt reflects recent years of losses that have built up since the Ayrshire airport was saved from closure by a Scottish government takeover.