After boosting both profits and passenger numbers, bosses at Leeds-Bradford Airport are planning more investment in facilities and expansion of services in 2014.

The Yeadon hub, owned by private equity group Bridgepoint, is looking to build on last year’s 11 per cent rise in passenger numbers to a record 3.3 million and continue the boost to its revenues from improvements to the site, which saw a £11.3 million terminal development in 2012.

Tony Hallwood, LBA aviation development and marketing director, said the focus this year would be on improving the airport’s airside infrastructure, including some new aircraft parking spaces and associated infrastructure to cope with expanding flights numbers at the UK’s fastest-growing airport.

Airport chiefs are looking to have a new financing structure in place by the spring, including refinancing a £49.2 million senior term loan, a £20.6 million capital expenditure facility and a £11.3 million terminal development.

Accounts posted at Companies House for the year ended March 31, 2013, show that LBA reported an 11.3 per cent increase in turnover to £25 million. It reduced pre-tax loses from £11.9 million to £11.3 million, including net exceptional costs of £400,000 relating to restructuring costs. It said the loss was due to investment levels, including the terminal development project LBA, which employs nearly 3,000 people, said income had been boosted by improved performance of both aeronautical revenue and commercial revenue, which had benefited from new retail facilities in the redeveloped terminal building.

Mr Hallwood said: “We need to make sure the services we offer meet the requirements of both airlines and passengers.

“Air travel continues to play an important part of the local economy, including through attracting more people into Yorkshire which helps hotels and other businesses too.”

The airport has announced seven new routes so far this year, including Scandin-avian Airlines starting operations between LBA and Copenhagen.

Eastern Airways will start services between LBA and Southampton next week and, the largest airline based at LBA, will introduce five new destinations this summer.