Published on : Saturday, July 7, 2018
The Manchester Airports Group saw a 6.7 % increase in passenger numbers, coming to 58.9 million for the first quarter of 2018.
Stansted reported the biggest growth with 7.45 and 26.1 million passengers and Manchester airport grew by 6.5% with 27.9 million passengers. The long-haul connections was responsible for the increase.
However, the East Midlands airport saw passenger numbers increase by 3.8% to 4.9 million. The overall growth in passenger number rose to 10.2% jump in revenue garnering £818.1 million. The adjusted EBIDTA was up by 5.6% % to £358.8 million.
MAG chief executive Charlie Cornish stated that the group was well placed for the future and its increased consumer demand will be responsible for further growth in the future.
He said that Manchester and Stansted are the two largest UK airports with significant runway capacity. Further investment will allow in catering to continued demand for aviation growth both in and out of the UK.
There is a clear framework for growth and the government’s support for airports will help in availing the best use of existing capacity for growth. It currently matches the backing for Heathrow expansion and there will be specific and practical proposals to improve rail access and maximizing the potential of Manchester, Stansted and East Midlands airports.
The group was confident that as the UK was preparing to leave the EU, the UK government and the EU will recognize the significance of providing passengers and airlines. They will work extensively to put in place a framework for the smooth functioning of air service post Brexit.
Their resilient foundation, strong financial position and the attractiveness of the UK airports will ensure that the business is well-placed and responses to challenges that might be felt by the UK economy in the future.