Ports of Jersey profits rise – and executive salaries are revealed

Jersey Airport. Picture: DAVID FERGUSON. (38261655)

PORTS of Jersey saw a surge in profits in 2023 following a significant rise in passenger numbers during the first full year with no Covid restrictions.

The organisation recorded an operating profit of £7.2 million – up from £1.8 million the previous year, according to its annual report.

More than 1.4 million passengers passed through the Airport – a 10.5% increase on 2022 but still short of the pre-pandemic figure of 1.7 million.

At the Harbour, the rate of recovery in passengers was even stronger, increasing by more than 97,000 from the previous year, or 26%.

The report also documented the salaries of Ports’ executive team, with chief executive Matt Thomas receiving an overall package of £453,000, up from £432,000 the previous year.

The package comprises a £272,000 salary, plus £137,000 performance-related pay and a £44,000 pension.

Jenny Marek-Murray, who was appointed chief financial officer early last year, received an overall package of £233,000, made up of a £157,000 salary, £51,000 performance-related pay and £25,000 pension.

The average salary package at Ports, according to the report, was £52,034.

In a statement, Mr Thomas said: “Passenger numbers have increased by almost 150% over the last two years, and Jersey Airport was one of the fastest airports in the UK and Crown Dependencies to recover from the impact of the pandemic.

“The resulting improvement in our financial performance is vital to enable us to deliver our essential investment plans.”

He added: “Our connectivity continues to grow, with easyJet adding Birmingham to its network, British Airways providing flights to both Heathrow and Gatwick, Jet2 running an inbound tourist service and Blue Islands securing our regional connectivity. I am particularly pleased to see growth to new European destinations from the likes of Lufthansa, Eurowings, Air Dolomiti and Channel Island Travel Group. In 2024, we will have services to 15 European destinations, including direct flights to Madeira, Tenerife, Ibiza, Faro, Majorca, Split and Lanzarote.

“Since emerging from the pandemic, we have worked on diversifying our revenues, so we do not have to depend solely on passenger and freight volumes. One example is our marine services business, which now has a fleet of four vessels working on marine infrastructure projects across Europe. This growth can then be invested in infrastructure and services for Jersey.”

The report also outlines Ports’ environmental ambitions, stating that it was awarded Level 3 ACI Airport Carbon Accreditation last year.

This, the report said, was an “important milestone which recognises the progress we have made and the plans we have developed to reduce operational carbon emissions to net zero by 2030 and to support our business partners to decarbonise”.

Ports said that it was “on track to become one of the first net-zero airports in Europe by the end of 2029”.

It added: “We are committed to working with our stakeholders and business partners to reduce carbon emissions by improving energy efficiency in our terminals, moving from diesel to sustainable fuel and electric vehicles, trialling uncrewed aircraft, and working with Blue Islands and Universal Hydrogen to enable hydrogen-powered, zero-emission flying.”

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