Newcastle Airport announces best ever results and outlines big investments

A KLM plane at Newcastle Airport
-Credit: (Image: Newcastle Airport)


Newcastle Airport has announced its best ever financial results after reporting a big rise in both revenues and profits. Accounts for the airport show that total revenues increased by 22% to £79.1m in 2023, while operating profit grew by 36% to stand at £33.9m.

The accounts also show that the airport welcomed 4.9m passengers in 2023 along with two new airline partners, SunExpress and AEGEAN. The year saw the airport invest around £20m in its passenger experience, including the redevelopment of the departure lounge and the introduction of new security technology that allows passengers to leave liquids and electronics in their hand luggage. It said that 98% of passengers passed through security in less than 10 minutes.

This winter will see another £20m of investment, led by a £17m project to resurface its 2,300-metre runway and adjoining taxiways. The project, which will start in November, will be the largest capital investment project in the airport’s history and aims to ‘future proof’ what it described as a key piece of regional infrastructure. A further £3m will be invested in additional improvements to the departure lounge experience and retail outlets.

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Mark Hunt, chief financial officer at Newcastle Airport said: “It is pleasing to see that the hard work of our colleagues and business partners has delivered another set of strong financial results. The airport is not only a financially robust business but also performs very strongly operationally, benefiting our passengers and airline partners.

“Last year we were delighted to win ‘Airport of the Year’ at the prestigious Routes World conference in the 0-5 million passenger category, an award nominated and voted for by airlines, as well as taking home the ‘Star UK Airport’ award at the Travel Bulletin Awards for the second year running. Our current customer satisfaction scores are some of the highest on record, and our Passenger Assistance team was recently given the top rating of ‘very good’ in the CAA Accessibility Audit.”

South Tyneside Council leader Tracey Dixon, who chairs the LA7 group of local authorities that have a 51% stake in the airport, said: “We would like to congratulate Newcastle Airport on delivering its best ever financial results. The airport is a significant asset to the North East. It is one of the region’s largest employers, generates millions of pounds for the local economy and attracts inbound tourism.”

Graeme Ferguson, head of airports at InfraBridge, which has a 49% stake in the airport, said: “Newcastle Airport has once again demonstrated that it is one of the UK’s best-performing regional airports, successfully balancing an exceptional passenger experience with efficient operations, while also helping to stimulate economic growth throughout the North East of England.”