Manchester Airport Group half year profits rose to almost £140 million from £115.9 million in the same period last year on the back of growing summer passenger numbers.
The improvement was achieved on half-year revenues rising to £768.5 million from £705.6 million.
The owner of Manchester, Stansted and East Midlands airports saw passenger throughput rise by almost 7% to 37.3 million in the six months to September 30.
MAG said the trio of airports handled more passengers between April and September than ever before in the group’s history.
The strong financial performance was driven primarily by record passenger volumes passing through MAG’s airports during the summer season.
Manchester airport achieved the highest growth at 8.5% year-on-year to 17.8 million passengers, followed by Stansted, up 5.7% to 16.7 million. East Midlands numbers grew by 3.7% to 2.8 million.
Half year revenue for the group increased by 8.9% to £768.4 million.
“Both Manchester and London Stansted airports recorded the busiest individual days and months since they began operations, and that growth is reflected in a strong financial performance in the first half of the year,” the group said.
“With MAG’s airports busier than ever before, it is particularly pleasing also to be reflecting on a strong operational performance and high levels of customer satisfaction throughout the summer.”
Manchester airport reached a milestone of serving 30 million passengers for the first time in its history in the 12 months to September.
A division of the group spent €44 million in October to acquire Netherlands-based airport parking comparison and booking platform Parkos Holding, operating with more than 1,000 providers in 15 countries across Europe.
MAG chief executive Ken O’Toole said: “Across the summer, one in five UK air passengers chose to fly through a MAG airport for business, leisure, to study or visit friends and family.
“This is testament to the strength of our route networks, our commitment to providing great choice and value to all our customers, and to always striving to deliver a positive passenger experience.
“While our industry faces challenges both in the UK and globally, such as increasing taxation and rising costs linked to the push towards full decarbonisation of air travel, MAG’s strong financial and operational performance makes us well-placed to drive forward our investment programmes as we continue to grow.
“Looking ahead to the next six months, we will be working with the government to recognise and maximise the benefits of international connectivity and infrastructure investment for UK plc.”