Sumary of Manchester airport reports worst results in its history:
- The UK’s largest airport group lost over £1m per day in the year ending 31 March 2021, as passenger numbers collapsed by 89 per cent.
- Manchester Airports Group (MAG) lost £374m over the year – attributed to “maintaining high fixed-cost airport operations with such significant reductions in passenger-related income”.
- The firm went into the coronavirus pandemic as the owner of two of the UK’s four-busiest airports: Manchester itself, and Stansted in Essex.
- The group also owns East Midlands airport in Leicestershire.
- The only bright spots were an increase in cargo operations at Stansted and East Midlands of 19 per cent and 31 per cent respectively.
- “As we look ahead, I am confident of the strong recovery our business and our sector can make, as well as the critical role our airports will play in ensuring a full recovery of the UK economy.” The results were announced on the eve of a court case in which MAG and five airlines will challenge the government over the transparency of the “traffic light” system that controls international arrivals to the UK.