Doncaster’s liftoff comes as UK airports face diverging fortunes

The £160m rescue of Doncaster Sheffield Airport offers a rare injection of optimism into the UK airports sector. Backed by South Yorkshire leaders, freight operations are expected to resume in 2027, with full passenger services scheduled for summer 2028. While campaigners hail the reopening as a catalyst for jobs and regional growth, Plimsoll’s latest analysis of the UK airports industry suggests the wider market is entering a critical phase of financial reckoning.

According to Plimsoll’s analysis of the 47 leading UK airport operators, 28 firms have been flagged as in Danger. These companies are consistently loss-making and face mounting questions over their financial viability. At the same time, only 11 firms are rated Strong, underscoring just how thin the foundations of the sector remain. The Doncaster announcement may grab headlines, but Plimsoll’s data reveals that much of the market continues to wrestle with profitability and sustainability.

Growth and profitability are uneven
The sector has delivered headline growth, with average sales rising 13.6% and margins of 10.7%. Yet the strength is not shared evenly. Plimsoll’s data shows that 20 airport operators have managed to grow revenues by more than 10% in the past year, while 14 others have slipped backwards. This polarity highlights the volatility facing regional airports in particular, where passenger volumes can hinge on a handful of operators or routes.

Valuations paint a brighter picture
The most striking finding lies in market valuations. Plimsoll reports that 28 of the 47 airport companies are now worth more than a year ago, with average values across the industry up by over 13%. Only three operators have lost more than a quarter of their value. Investors appear willing to reward airports that can demonstrate resilience and diversified revenue streams, particularly those aligned with freight growth and infrastructure partnerships.

A contested recovery
Doncaster Sheffield’s relaunch reflects both ambition and risk. Supporters argue it will underpin £5bn in economic gains and thousands of jobs by 2050. Critics counter that if private investors would not fund its return, taxpayers may be shouldering undue risk. Plimsoll’s findings provide context: with 10 airports still registering serial losses, the economics of recovery are fragile. The challenge is whether Doncaster can position itself among the expanding minority rather than the struggling majority.

Looking ahead
Plimsoll’s analysis identifies 14 airport operators as “highly attractive” takeover targets and a further 31 as “worth considering.” These figures underline the continuing appeal of consolidation in the sector, as investors and operators seek scale, efficiency and market presence. With traffic returning and valuations rising, acquisition activity is likely to remain an important dynamic across the UK airports market.

See the full picture. The latest Plimsoll Analysis lays bare the UK airport market. Find out where your company stands by visiting https://www.plimsoll.co.uk/market-reports/airports .