Ports of Jersey Annual Report 2022
From Port of Jersey
23rd May 2023
Ports of Jersey today released its Annual Report for 2022, which has confirmed a sharp recovery in connectivity, passenger volumes and a return to profitability, following the unprecedented impact of the pandemic on the travel sector.
Ports of Jersey delivered growth of 26% in turnover (to £45.5m) and an operating profit of £1.9m, up from a loss of £4.3m in 2021.
The recovery in passenger numbers at Jersey Airport was among the fastest of all the airports in the UK and Crown Dependencies, to almost 80% of pre-pandemic levels. During the year, Ports of Jersey announced new long-term agreements with easyJet (including the launch of their first European route to Amsterdam) and British Airways, which confirmed its long-term commitment to fly to Heathrow. This is projected to generate £123m per annum for the island’s economy by 2025.
Commenting on the results, Ports of Jersey Chairman Mark Chown said: “We are very pleased with the recovery in connectivity at Jersey Airport, and the company’s financial performance has outperformed our expectations for 2022. As we transition out of the pandemic, I am very proud that Ports of Jersey has not sought, or received, any taxpayer support over the last three years, distinguishing us from all other airports and ports across Europe.
“As we look to the future, we are anticipating further growth in our connectivity in 2023 as well as commencing the major investment and regeneration programme of St Helier Harbour. I would like to commend all our employees for their contribution and commitment during the year.”
CEO, Matt Thomas, said: “We are reaping the benefits of the work that we undertook during the pandemic, when we worked closely with our airline partners to secure the resilience of our air links. We have agreements in place with each of our major carriers, with BA now flying to Heathrow, easyJet introducing its first European route to Amsterdam, Blue Islands providing regional and inter-island connectivity and Jet2 supporting Jersey’s inbound tourism sector.
“The pandemic shone a light on the critical importance of secure connectivity for Islanders and our economy. We have managed to secure the resilience of our air links, and now our efforts have shifted to the key role that connectivity will play in the recovery of our economy. And alongside our push to secure and develop connectivity, we are working with partners to trial the use of green hydrogen as an airline and maritime fuel.
“We want to be at the forefront of providing truly sustainable travel, and with Universal Hydrogen and OceansLab we are working towards this goal by sharing the knowledge and technology needed to use green hydrogen in the aviation and maritime industries.”
Mr Chown added: “The success we have seen in 2022 would not have been possible without the leadership of our CEO, Matt Thomas, and the commitment of our employees. They have been integral to the way Ports of Jersey has successfully managed the impact of the pandemic, and to the foundations that have been laid to ensure that Ports of Jersey will be a key economic driver, serving our island community in the coming years.”