Loganair awarded contract to operate Derry and Stansted service
Scottish airline Loganair has been awarded the UK public service obligation contract to operate a service between Derry and London Stansted.
The award of the contract follows the collapse of Loganair’s sister airline, Flybmi last weekend.
Flybmi and Loganair are both owned by UK-based firm Airline Investments.
The latest set of accounts for Loganair show that it lost almost £9m (€10.2m) in the 12 months to the end of March last year.
It was hammered as it stopped operating under a franchise agreement with Flybe, and instead rebranded as ‘Scotland’s Airline’. It faced competition during the financial year on six of its eight largest routes through Flybe’s partnership with Eastern Airways.
Loganair generated turnover of £110.7m (€126.5m) in its 2018 financial year and carried just over 812,000 passengers.
Airline Investments is backed by brothers Stephen and Peter Bond, who previously owned Bond Offshore Helicopters.
The latest set of publicly available accounts for Airline Investments show that it made a £3.2m (€3.6m) in the 12 months to the end of March 2017. That was despite Loganair posting a profit that year.
Loganair will begin operating the Derry-Stansted route from next Wednesday, providing two services each weekday and on Sundays, as well as a single Saturday flight.