Airport profits nosedive as recession hits
30th July 2010
MANCHESTER Airport Group saw profits buffeted by the recession as operating earnings fell 28% to £56.1m in the year to the end of March.The profits fall came as passenger numbers fell 12% to 23.9 million and group revenues fell 6.2% to £348m.The operator of four regional airports - Manchester, East Midlands, Bournemouth and Humberside - said it hoped to return to growth next year as the economy recovers.MAG is owned by the 10 councils of Greater Manchester, with Manchester City Council holding 55% and the other nine lo......for the full story register now for free or login below...






Great news! Perhaps this will at least put on hold MAG's many plans to rip up the countryside around their various airports for expansion of these.
Michael Blank