Record revenues as airport owner moves ahead with £2bn investment drive

Insider Media Limited
Adam Beech
02 July 2024

Manchester Airports Group (MAG), which owns and operates the Manchester, London Stansted and East Midlands Airports, has reported record revenues for its latest financial year. The business said it is investing £2bn in its facilities over the next five years. 

The group generated revenues of £1.2bn in the year to 31 March 2024, with an adjusted EBITDA of £507m, up 23 per cent year-on-year.

Operating profits stood at £240.1m after accounting for one-offs, up from £28.6m in 2022-23.

MAG served 61.3m passengers in the year to 31 March 2024, exceeding passenger levels recorded in 2019-20 for the first time. 

It is undertaking a programme of capital expenditure that will involve it investing about £2bn in its airports over the next five years.

[Read on: Record revenues as airport owner moves ahead with £2bn investment drive | Insider Media]