THE company which controls Plymouth's disused airport says the cost of maintaining the site and fighting legal claims from Plymouth City Council has lost it nearly £1 million.
Newly released accounts for Plymouth City Airport Ltd, the subsidiary company which holds the long lease on the 113-acre site, shows a huge deficit for 2023/24. The firm said the loss of £927,000 was up from a deficit of £612,000 in 2023.
Writing in a directors' report and financial statements for the year to the end of March 2024, company secretary Natasha Gadsdon said: "The loss reflects the costs associated with maintaining the former airport site." She said this includes interest and "exceptional costs" of legal advice to refute Plymouth City Council's claim that the company is in breach of its long lease.
This story is from the November 29, 2024 edition of The Herald.
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This story is from the November 29, 2024 edition of The Herald.
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