Investment deal announced for Liverpool John Lennon airport

Investment deal announced for Liverpool John Lennon airport

A major investment programme for Liverpool’s John Lennon airport has been announced by its owners The Peel Group.

The operator said it has reached a long-term agreement with the airport’s lenders to underpin investment over the next five years.

In a statement The Peel Group said the arrangement will support future growth and has reduced the airport’s bank debt.

It has also committed funding to improve the airport’s terminal and passenger experience, through refurbishment and expansion of facilities to meet expected growth.

Steven Underwood, chief executive of The Peel Group, said: “We are delighted to have secured this new deal, which has allowed us to commit to the new investment programme.

“The future of Liverpool John Lennon airport is strategically important to Peel, the wider city-region and, indeed, the Northern Powerhouse as a whole.

“We have invested more than £100 million in LJLA over the last 15 years and have overseen a transformation in the business.

“We will continue to work closely with all the Airport’s stakeholders to ensure its continued success.”

Andrew Cornish, chief executive of Liverpool John Lennon airport, added: “This is an exciting time for the airport and Peel’s latest commitment will help to ensure that whilst continuing to grow the business further by offering our passengers more choice of airlines and destinations, we can give them the best possible passenger experience too, cementing our position as the airport the region loves.”

In the first half of 2015 the airport has seen a 6% year-on-year increase in passenger numbers following the addition of a number of new routes and airlines.

For the financial year 2013/14 the airport made an operating profit of £2.4 million.

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