The article originally appeared on TD (Travel Daily Media).
Although this result builds upon a continued positive financial trajectory, it also underscores the difficulties faced by the airline in 2023, particularly with regards to its operational performance, which was impacted by completing the fleet transition programme.
Operating a fleet of 36 planes and employing over 850 staff across its extensive network, Loganair connects passengers on more than 60 routes. In the year to March 2024 the airline carried over 1.5m scheduled passengers, as well as operating charter services for the Oil & Gas industry, and delivering on its multi-year contract with the Royal Mail.
During the financial year ending March 2024, Loganair invested substantial resources to complete a comprehensive fleet transformation, successfully transitioning to an all-ATR aircraft operation by retiring its final Saab 340 in January of that same year. The introduction of larger ATR aircraft enables a more refined travel experience for passengers, featuring a noticeably quieter cabin, roomier overhead storage facilities for luggage, and an expanded seating capacity that allows airlines to further boost tourism in the islands and throughout Scotland.
According to Luke Farajallah, Loganair’s CEO, “Loganair bucked industry trends, delivering a robust performance for FY ending March 2024 despite navigating supply-chain hurdles, operational disruptions, and inflationary pressures that beset the sector in 2023.” This approach enables us to maintain a sustainable operation, invest in our fleet and customer experience, and provide vital regional and lifeline connectivity to our customers.
The financial year concluding in March 2024 proved particularly arduous, with numerous hurdles that threatened to hinder progress at every turn, ultimately yielding a set of results that starkly reflected the difficulties encountered throughout the industry. Notwithstanding a commitment to leverage historic financial successes, we have redirected our attention towards optimising operational efficiency and mitigating expenses linked to flight disruptions, capitalizing on the completion of our fleet renewal programme in 2024. The company has demonstrated a significant and favourable response to the implemented modifications, resulting in a substantial decrease in delays and cancellations, accompanied by a corresponding decline in related expenses. We have prioritized enhancing the customer experience through a range of initiatives, including cabin enhancements, website updates, and streamlined airport procedures.
Our strategic objective moving forward is to capitalize on the promising momentum we’ve experienced in 2024, laying a sturdy groundwork for sustained expansion in the years to come. I am convinced that future financial results will undoubtedly reflect the positive impact of the strategic changes and initiatives we are undertaking, providing a promising outlook for all stakeholders: our investors, employees, and customers.
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