MAG sees passenger numbers recover to 84% of pre-Covid levels

Manchester Airports Group (MAG) has recorded an operating profit of £22.8 million in the half year period from April to September 2022, with 30.5 million passengers served, 84% of its pre-pandemic record in 2019.

Figures from the 2022 summer season contrast sharply to last year’s performance, when MAG airports (Manchester, London Stansted and East Midlands airports) collectively serviced just 6.6 million travellers while Covid-19 travel restrictions were in place around the globe. MAG recorded an operating profit of £22.8 million, compared with losses of £75.7 million during the same period last year. Revenues increased by £158.7 million to £538.8 million.

Manchester Airport served 14.3 million passengers between April and September, up from 2.7 million across the same period last year, with the airport welcoming the relaunch of a number of long-haul routes to the North America, the Middle East and China. The airport is now engaging with airlines to resume services to other US destinations, including San Francisco, and Boston, and to introduce new long-haul routes, including direct services to India, which had been planned prior to the pandemic.

Stansted meanwhile saw one of the strongest recoveries of any European airport, boosted by its extensive roster low-cost flights.

MAG’s positive performance across all of its airports was driven by the reintroduction of the vast majority of its airlines’ pre-pandemic routes. Short-haul travel at times exceeded 2019 traffic levels, while there was a strong recovery in direct long-haul routes, particularly to North America and the Middle East. Following an extensive recruitment campaign, service levels at MAG’s airports are now at or above pre-Covid levels, with over 2,000 new colleagues joining the Group.

While wider economic factors, including the cost of living, could dampen growth in demand for international travel over the coming months, the Group remains confident its positive recovery will continue.

Commenting on the airport operator’s half-year results, MAG CEO, Charlie Cornish said:

“These half-year results demonstrate the significant progress our business has made over the summer months, and are testament to the hard work and dedication of teams across MAG.

“The uplift in passenger numbers we have seen reflects the strong demand for international travel since restrictions were lifted, with more than 30 million passengers travelling through our airports between April and September.

“After a challenging start to the summer season, I am pleased to have welcomed more than 2,000 new colleagues into the business and want to assure all our customers we are focussed on delivering a really positive experience for the remainder of the year, and throughout 2023.

“As the UK navigates a period of economic uncertainty, we will be working closely with our airlines to ensure our airports offer passengers an excellent choice of affordable travel options.

“Throughout the first half of this year, MAG has also continued to play an industry leading role in the drive towards a net zero aviation sector, including commitments we made to support the delivery of  the Government’s Jet Zero Strategy, alongside the landmark partnership we recently announced with HyNet, to secure the future of hydrogen fuel at Manchester Airport.

“Following the historic agreement by the global aviation sector to reach net zero by 2050 at this year’s ICAO General Assembly, MAG remains committed to playing a leading role in realising this shared global ambition.”