MAG revenue rises to £544.6 million

Published on : Saturday, December 9, 2017

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There was a double-digit growth in passengers of Manchester Airports Group while the passengers revenue rose to £544.6 million during summer.

 

 

There has been an increase across all three airports  and the half year results from April to September mentioned that it handled 34.9 million passengers Manchester, Stansted and East Midlands respectively.

 

 

 

There was a 12.9% increase in revenue  and EBIDTA was 9.6% to  £236.6 million.

 

 

Manchester  saw a 9.2% increase in passengers to 16.6 million while Stansted numbers rose 9.2% to 14.6 million.

 

 

East Midlands had  3.2% increase in passenger numbers to 3.2 million.

 

 

Bournemouth airport also owned by MAG during the summer showed an increase of 3.3% to 500,000 travellers.

 

 

After the collapse of Monarch there was a significant interest in freed up slots and there were new routes already operating by other airlines.

 

 

MAG chief executive Charlie Cornish said that the latest results show a strong resilient business and better future growth prospects.

 

 

 

The commercial approach of engaging with airlines has enabled them  to build extensive route networks that have turned popular with passengers.

 

 

The government was urged to do things to secure the seamless connectivity to the global markets. They will work to ensure the policy frame work was in place to support their continued success.

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