MAG DELIVERS ANOTHER YEAR OF "STRONG GROWTH"

UK airport operator, MAG, today issued its audited results for the financial year ending March 31, 2018, revealing that its EBITDA soared by 5.8% ro £358 million.

Manchester Airport consolidated its position as a European top 20 airport by handling 27.9 million passengera during period, a rise of 6.5% on the previous year.

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It says that long-haul growth at the airport was the highlight, with the Hong Kong route increased to daily frequency, and new routes announced to Mumbai, Seattle and Addis Ababa. 

Additionally, Manchester is now ranked sixth in Europe for passengers travelling direct to the USA.

London Stansted Airport passenger numbers rose 7.4% to 26.1 million in FY2017/18.

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Stansted is the fastest growing major airport in the UK and now handles 7.6m more passengers per year than when MAG acquired it in 2013. 

New services were announced to New York, Toronto, Boston and Washington DC, together with daily flights by Emirates to Dubai providing convenient onward connections to 150 worldwide destinations.

MAG claims that East Midlands Airport continues to play a key role in the thriving 'Midlands Engine'. 

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The airport is the country’s busiest airport for ‘pure cargo’ aircraft and saw tonnage increase by 9.7% to 358,000 tonnes. Passenger numbers were also up 3.8% to 4.9 million.

It adds that development plans underway at Machester and Stansted airports show that it is preparing the gateways for the future.

Manchester Airport’s Transformation Programme (MANTP) got underway in July 2017, with £150 million invested in new facilities during the year. 

While London Stansted Airport submitted a planning application to raise the limit on the number of passengers it is permitted to serve from 35mppa to 43mppa, without increasing the currently permitted number of flights or agreed noise footprint.

MAG’s three airports contributed £7.1 billion in economic activity to the UK economy in FY2017/18, an increase of 15% on the previous financial year. 

It states: "In the last year alone, 5,000 jobs were created at our airports and in their supply chains, in industries including construction, tourism and transport, and those involved in global import and exports."

MAG’s Property division generated a total income for the Group of £44.4m, boosted by increased interest in the Airport City Manchester site. 

MAG has a pipeline of hotels at Airport City North, which will deliver over 1,100 new rooms in a £180m hotel district. 

Meanwhile, 51,000sqft of office space was let to e-commerce business, The Hut Group. 

Elsewhere, Hampton by Hilton opened its largest ever property at London Stansted Airport and two significant air freight companies moved into property at East Midlands Airport, West Atlantic and Heavyweight Air Express.

MAG’s own technology and e-commerce business, MAG-O, focused on building a single online platform that will enable passengers to buy car parking, fast track, lounge and retail in one seamless online transaction.

MAG’s American business, MAG USA, also continued to grow, with four Escape Lounges now open, and a fifth recently announced at Greenville-Spartanburg Airport, North Carolina.