Manchester airport owner hails combined catchment area as profits rise

Manchester airport’s owner saw half year profits rise on the back of the busiest summer at the northwest hub.

Manchester Airports Group pre-tax profit rose to £144.6 million in the six months to September 30 from £139.6 million in the previous equivalent period as revenue increased by 10.5% to £850.6 million.

Total passenger numbers were up by 1.9% to a record 38 million across the group’s Manchester, Stansted and East Midlands airports.  

Manchester airport saw passenger volumes rise by almost 4% year on year to 18.5 million, while Stansted numbers rose by 0.6% to 16.8 million. East Midlands saw a fall of 3.6% to 2.7 million.

The company said: “That means around one in five of all UK air travellers used a MAG airport during the year, reflecting the reach of our combined catchment areas.”

The April to September performance was achieved “due to our focus on maximising the choice available to passengers in all parts of the country - and by ensuring air travel is as affordable and accessible as possible for all. 

“Continued passenger growth has underpinned MAG’s strong financial performance in first half of the year,” the company said.

MAG chef executive Ken O’Toole said: “It is pleasing to report strong interim results, driven by our focus on maximising the choice we give to passengers in all parts of the country.

“One in five UK air passengers use a MAG airport and we are committed to providing them the best possible value when they travel for business, leisure or to visit friends and family. That is reflected in the strong passenger performance we saw in the first half, which drove both revenue and Ebitda growth.

“MAG is the largest transport investor outside the M25 and we have plans to build on the historic £1.3 billion transformation of Manchester airport with a further programme of major investment over the next five years. That will unlock growth in the regions we serve, powering the UK economy.”

He added: “The government’s policy support for airport expansion provides a welcome backdrop for that. It has rightly put aviation at the heart of its growth mission. But unprecedented increases to business rates risk holding the sector back by making travel more expensive for consumers and undermining investment cases.

“That is why we need a realistic rates settlement in the Treasury’s upcoming review to give us the confidence to proceed with our investment plans as they are.”