MAG revenue gains set to boost Manchester councils

摘要

Local authorities in Greater Manchester will benefit from a £48m windfall following a strong financial performance for the Manchester Airport Group (MAG) this year. The airport operator, which is partly local authority owned, announced on 31 July that revenue has increased by £19.9m over the last year and it has experienced 'significant growth', including the purchase of Stansted Airport (pictured). The group's strong performance meant a larger than normal dividend return for shareholders, including £48m for the 10 local authorities with a stake in the group. Manchester City Council owns a 35.5% of the group and the remaining local authorities own 29%.