MAG lost £320 million in the 12 months to 31 March 2022, when the three airports served just 20.5 million passengers.
MAG said: “Despite a marked increase compared to 2020/21, the fact travel restrictions were in place for 11 months of the period meant passenger volumes were still only equivalent to 33% of 2019/20 levels.”
The group’s combined losses for the last two years stand at £694 million, with revenues down by 80% in 2020/21 and 48% in 2021/22 compared to 2018/19.
The group expects passenger volumes this summer to increase to levels “close to those seen in 2019, leading to a fuller recovery over the course of 2022/23”.
Manchester Airports Group confident despite pandemic loss
Air
Gary Noakes
7 July 2022
Manchester Airports Group, which owns Manchester, Stansted and East Midlands airports, has recorded another heavy pandemic loss.
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