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07 Dec 2017

BY Edward Robertson

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MAG reports passenger and revenue growth

Manchester Airports Group (MAG) has reported a near double-digit growth in passengers while revenue has risen to £544.6 million in the summer.

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The group has seen increases across all three of its airports

Releasing its half year results for the period from April 1 to September 30, 2017,

the group said it handled 34.9 million passengers at its three airports, Manchester, Stansted and East Midlands.

 

In total, they helped drive a 12.9% increase in revenue while EBITDA rose 9.6% to £236.6 million.

 

A break down of the figures further reveals Manchester saw a 9.2% increase in passengers to 16.6 million while Stansted numbers rose 9.2% to 14.6 million.

 

East Midlands saw a 3.2% increase in passenger numbers to 3.2 million.

 

Bournemouth airport, which was owned by MAG during the summer, also saw an increase of 3.3% to 500,000 travellers. However, the airport was sold by the group earlier this month.

 

The group also reported following the collapse of Monarch in October, it saw significant interest in the freed up slots with new routes already operate by Jet2.com, Thomas Cook and Tui.

 

MAG chief executive Charlie Cornish said: “Our latest results demonstrate that MAG is a strong and resilient business that is confident in its future growth prospects, and one that through the significant investment it is making is demonstrating its commitment to meeting long term customer needs.

 

“Across the group, our commercial approach to engaging with airlines has enabled us to build extensive route networks that are proving very popular with passengers.

 

“This aviation growth, combined with our ongoing focus on passenger experience and non-aviation revenues, has resulted in us being able to deliver the 13th consecutive half-year of adjusted EBITDA* growth.

 

“As we grow we are committing considerable investment to enhancing the look, feel and operation of our airports.

 

“In addition, the transformational projects at both Manchester and Stansted will deliver the larger terminal facilities needed for us to make better use of our spare runway capacity.

 

“We are proud of the economic benefits that our airports generate for their local regions and the contribution they make to UK PLC.

 

“As the UK gets closer to leaving the EU, we urge government to do everything it can to secure the seamless connectivity to global markets that people enjoy today. As MAG continues to grow we will work with government to ensure the policy framework is in place to support our continued success.

 

“In July, we welcomed the government’s statement that it supports making best use of existing capacity at all airports around the country.

 

“It is now for the government to use its Aviation Strategy to set out an ambitious plan to make better use of existing runway capacity and improve the UK’s international connectivity.

 

“Improving road and rail access to airports is a critical part of this.

 

“As we leave the EU, it will be more important than ever for the UK to develop the best possible connections to global markets.

 

“MAG expects demand for air travel to and from the UK to remain buoyant and to continue growing.

 

“As MAG continues to grow we will work with government to ensure the policy framework is in place to support our continued success.”

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