Letter: VOICE OF THE NORTH - Full disclosure demanded on all the issues involving Newcastle Airport.

(From The Journal)

Byline: GEORGE SMITH CBE

IN accounts released by Companies House, it has been revealed that for the year ending December 31, 2007, Newcastle International Airport's revenue was pounds 55,702m, an increase of pounds 3.326m over last year. They made a profit of pounds 2.08m as against a loss last year of pounds 15,126m.

This is after providing pounds 900,000 for exceptional legal and other costs in connection with a court action against John Parkin, a former executive director and the late Lars Friis, a former finance director, for the recovery of bonus payments of pounds 6.297m.

This action has now been settled out of court, but the terms remain secret although they will have to be revealed in the next year's accounts.

Passenger numbers were 5.5 million, an increase of 200,000 over the previous year. The revenue per passenger rose by 6p to pounds 9.77, but no significant increases are expected for 2008.

Following the massive loan taken out last year mainly to pay a dividend to shareholders, pounds 83m was paid to seven local authorities ...