HIAL’s Annual Report for 2022/2023

Today sees the publication of our annual report and accounts for 2022/2023.

We have published our annual report and accounts for 2022/2023 following a year of recalibration and steady progress for HIAL as we continue to move away from post-pandemic recovery and towards a focus on bolstering our services for the communities we serve.

Passenger numbers were just over 1.4million at the end of the financial year. This is an increase of almost 39% on passenger figures for the 2021/22 financial year, and now sits at almost 88% of the pre-pandemic passenger levels for 2019/20.

The continued funding and support from Transport Scotland helped us deliver an extensive capital programme with over £19.5 million invested to modernise and improve airport infrastructure and sustaining the longevity of our airports. The capital programme was spread across all airports and HIAL headquarters at Inverness and ranged from the completion of coastal erosion works at Stornoway, works on the runway resurfacing and rehabilitation projects at Sumburgh and Islay, to the development of new systems to support our Finance, HR, and operational functions.

For the year ended March 2023, HIAL received a public subsidy of £55,868,447 including revenue funding of £37,881,946 and capital funding of £17,986,500 which was supplemented by £1,567,036 of loan funding for our commercial activities.

In an ever-changing and unpredictable world, HIAL was impacted in the same way as many other businesses have been with considerable economic and financial pressures. This led us to re-calibrate our goals and reappraise our strategic priorities and spending decisions.

Following an extensive programme of consultation, we published our revised Strategic Plan for 2023-28 on 22 June 2023 following a delay due to the change in government administration.  This sets our focus and objectives for 2023/24 onwards.

We look forward to working with colleagues and all of our stakeholders as we continue to deliver our strategic goals.

Annual Report and Accounts 2022-2023

Published: 14th December 2023