Airport Group’s Profits Fly

Manchester Airport Group – the UK’s second-largest airport operator after BAA and owner of Nottingham East Midlands – has notched up a 31.2 per cent rise in full-year pre-tax profits.

For the year to March 31 local authority-owned MAG posted a pretax profit of pounds 66.4 million, up from pounds 50.6 million in 2004.

Operating profit increased 6.2 per cent to pounds 94.8 million, while turnover rose 5.8 per cent to pounds 373.5 million, reflecting a 5.6 per cent increase in passenger numbers to 26.8 million.

‘Looking ahead continued growth in passenger traffic is expected at all group airports over the coming years,’ said chairman Alan Jones.

‘The group is now very well placed to commence the major expansions of its passenger terminal and airfield capacity that will be required to meet the expected increase in demand for air travel