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Manchester Airports Group returns to the black as flights take off

Manchester Airports Group returns to the black as flights take off

Passenger numbers exceeded pre-pandemic levels in the last financial year as Manchester Airports Group returned to profitability.

The owner of Manchester, Stansted and East Midlands airports served 61.3 million travellers in the 12 months to March 31, surpassing levels last recorded in 2019-20 for the first time since the Covid-19 crisis.

Manchester Airport’s owner said the results provided “solid foundations” for a £2bn capital expenditure programme

ALAMY

The group said it made an operating profit of £240.1 million after accounting for one-off costs, up from £28.6 million in 2022-23. The results provided “solid foundations” for a capital expenditure programme in which it will invest around £2 billion in its airports over the next five years, the group said.

The Sunday Times reported that the group was considering a bid for AGS Airports, which owns Aberdeen, Glasgow and Southampton