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Manchester Airports Group sees revenues drop 81%

Air
Jennifer Morris
9 December 2020

Manchester Airport Group Investments Limited – parent to Manchester, Stansted and East Midlands airports – has released its financial results for the six months to 30 September.

Queues were forming on the walkway this morning

Passenger numbers for the six month period fell to 4.2 million – a reduction of 88.5% compared to the 36.4 million passengers in the equivalent period of 2019. 

As a direct result the group has made a significant loss during the period. 

Adjusted Ebitda (earnings before interest, tax, depreciation and amortisation) decreased from £268.1 million to -£87.5 million. 

Revenue dropped from £540.6 million to £102.4 million. 

The group said in a statement its response to the pandemic "has been measured, strong and focused on long-term recovery".