MAG data annual revenues of £1 billion for first time – Enterprise Traveller
Manchester Airports Group (MAG) has revealed its annual outcomes following the “first full 12 months of restriction-free journey”.
The group – which operates Manchester, Stansted and East Midlands airports – served 54 million passengers between April 1, 2022 and March 31, 2023, equal to 91 per cent of ranges in 2019-2020.
Stansted topped the group when it comes to passenger restoration, recording 95 per cent or pre-pandemic site visitors over the interval, with Manchester seeing 89 per cent of 2019-2020 ranges, and East Midlands lagging behind on 73 per cent.
MAG additionally recorded annual revenues of £1 billion for the primary time, and reported an working revenue of £28.6 million (after accounting for one-offs), in comparison with a lack of £130 million within the 12 months to April 2022.
The group stated that restoration had been notably sturdy within the low-cost, short-haul sector, citing Ryanair, Jet2, easyJet and TUI as carriers which had added “a big variety of direct connections throughout the Group”.
MAG stated that each one three of its airports have been “delivering a persistently good degree of service to passengers”, including that the group was now targeted “on delivering important funding in its airports to reinforce the passenger expertise”.
This week London Stansted revealed new plans so as to add a three-bay extension added to the again of its terminal constructing, which it stated would offer “a extra spacious departure lounge for passengers, together with new outlets, bars and eating places, state-of-the-art check-in gear, elevated baggage system capability and an enlarged safety corridor with extra house for extra safety lanes fitted with next-generation scanners”.
Stansted airport unveils terminal extension plans
Earlier this 12 months Manchester airport – which is within the midst of celebrating its eighty fifth birthday – commenced the ultimate £440 million section of its £1.3 billion transformation programme, which is due for completion in 2025.
The works will increase the retail and restaurant providing at Terminal 2, with a complete of 27 new outlets and eating places together with a champagne bar, brasserie and meals market alongside an prolonged departure lounge.
Manchester airport outlines plans for procuring and eating expertise at revamped T2
Commenting on the information, MAG’s outgoing CEO Charlie Cornish – who will transfer to a brand new place as MAG Chair when Ken O’Toole takes over because the group’s new CEO in October – stated:
“This 12 months’s outcomes spotlight the size of the restoration that MAG and the aviation trade have seen during the last 12 months.
“With our airports’ route networks returning to full power, we’ve got been in a position to supply passengers the big selection of world locations they get pleasure from. It has additionally been encouraging to see the power of the restoration in demand for journey, with passenger site visitors at our airports greater than 90 per cent of pre-pandemic ranges.
“As I mirror on my remaining full-year outcomes earlier than I stand down as MAG CEO, I’m happy to have overseen such a constructive 12 months for our airports, and the progress we made in delivering excessive ranges of customer support. I want to thank all of our colleagues for his or her onerous work and dedication, not simply over this previous 12 months, however all through my time with the enterprise.
“Throughout my time as CEO I’m happy with what the Group has achieved, from a big interval of progress pre-pandemic and the work we’ve got carried out to recuperate, to the main function we proceed to play in aviation decarbonisation.
“We are actually targeted on delivering funding throughout the Group to reinforce the airport expertise for our passengers and drive future sustainable progress, and I look ahead to overseeing these initiatives in my new function as MAG Chair.”
