Great Britain

Newcastle airport's recovery from coronavirus will take time

BOSSES at Newcastle Airport have admitted it will ‘take some time’ to rebuild following the coronavirus pandemic.

A slump in business caused by the Covid-19 outbreak has seen the transport hub increase parking charges to make ends meet, with more price rises expected to be considered.

But a recovery plan is in place, with chiefs already indicating to creditors when they can expected loan payments to restart.

A spokeswoman for the airport said: “Newcastle International is a strong regional airport and is well equipped to withstand this challenging period.

“Flights have now started to return but the recovery is likely to take some time.

“There will inevitably be a short term impact upon investment, however, we are confident that in due course our long-term plans can be progressed.”

The North East’s seven councils – Northumberland, County Durham, Sunderland, South Tyneside, North Tyneside, Newcastle and Gateshead – collectively own a 51 per cent stake in the airport.

Known as the ‘LA7’, the group signed a loan agreement worth £67.665 million in 2012/13.

Repayments are made in instalments due every six months, but according to a report for Durham County Council’s Audit Committee, these are expected to be halted until October 2022.

It added that although the latest accounts are not yet available, at the end of 2018 the airport had reported a post-tax profit of £7.435 million.

Last month finance chiefs at Sunderland City Council insisted there was ‘no question’ over the airport’s future.

Football news:

Tiago Alcantara-Messi among the Midfielders. His ball movement and control of matches is an aesthetic pleasure
Yeovil of England's 5th division about De Gea: No, I'm not Interested. Sorry, David
Henderson is the best player of Liverpool in the 2019/20 season
Massimo Moratti: The owners of Inter have everything they need to bring Messi
Gagliardini on the match with Shakhtar: They are strong, but Inter is determined
The President of Atletico Madrid on the departure of the Champions League: Not our night. They were lucky to score twice, we have a good team
Defender Lyon Of Marsal: We are thinking about reaching the final of the Champions League. We have a great chance of winning