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Manchester Airport profits helping a number of town halls

All must be happy at the airport which Car Hire Manchester Airport serve, with increased profits being awarded to a number of local town halls. 

The increasing fortunes at Manchester Airport is set to benefit ten Greater Manchester town halls with a £30 million windfall. It is the biggest annual payout to the councils which jointly own the airport, and receive cash each year with the amount depending on the success of the airport.

It is unclear how Manchester will spend the money this year but the most likely option is to put it back into general services. Last year MAG also paid a one-off £30m bonus to the ten councils, which was linked to it completing a swoop for Stansted Airport and refinancing its debt. Manchester netted £14.5m from that deal which was used to improve the city’s environment.

The overall income for the Manchester Airports Group up to the 31st March 2014 was £671.2 million, from £411.5 million in 2013. In total 48.3 million people passed through the terminals of the groups four airports, with Manchester alone handling just under 21 million passengers. In the MAG annual report it said, “We aim to go past Manchester’s peak performance of 22m within the next year.”