The group said its combined losses for the last two years stand at £694 million.
07 July 2022
The owner of Manchester, London Stansted and East Midlands airports lost £320 million during the 12 months to the end of March as passenger numbers were a third of pre-pandemic levels.
Manchester Airports Group (MAG) said its combined losses for the last two years stand at £694 million.
Compared with 2018/19, revenues were down 80% in 2020/21 and 48% during the following year.
The group served 20.5 million passengers in the 12 months to the end of March.
That was more than triple the figure for the previous year, which was affected by coronavirus lockdowns.
However, it was just a third of the 2019/20 total as pandemic travel restrictions were in place in the UK for 11 months of the period.