Manchester Airports Group (MAG) said it is poised to embark on a fresh phase of significant infrastructure investment, thanks to a record year that also saw it grow its international footprint.
The group – which owns and operates Manchester, London Stansted and East Midlands Airports, as well as travel services business CAVU – released its full-year results for the 12 months to March 31, 2025.
MAG posted revenues of £1.3 billion, up 8.4% on FY24, and an adjusted EBITDA of £570.4 million, up 12.5% year-on-year.
Operating profit stood at £263.2m after accounting for one-offs, up 9.8% on FY24.
Manchester Airports Group is owned by a combination of public and private shareholders, including Manchester City Council (35.5%), IFM Global Infrastructure Fund (35.5%) and the nine other Greater Manchester local authorities (29%).
“The strong performance was driven by growth at all its airports, with the group serving a combined total of 65m passengers for the first time in its history,” said MAG.
“That was delivered through a combination of new routes and extra frequencies from its existing major airlines – such as easyJet, Ryanair, Jet2.com and TUI – and by welcoming new carriers to its airports. Today, India’s biggest airline IndiGo will begin a new service from Manchester to Mumbai – its first in Europe.”
CAVU, which sells travel products through a digital marketplace, as well as operating airport lounges, grew revenues nearly 14% year-on-year. It now has a presence at 308 airports in 48 countries globally.
MAG continued to invest heavily during the period and will complete its 10-year Manchester Airport Transformation Programme later this year. Looking ahead, it is due to spend a further £2.5 billion over the next five years at all three airports.
That includes a £1.1 billion investment in London Stansted, which was announced during the Government’s International Investment Summit in October.
MAG CEO Ken O’Toole said: “This year’s record performance is a testament to the strength of our business and the dedication of our people. With more passengers choosing our airports than ever before, MAG continues to play a vital role in connecting the UK to the world.
“Our airports are engines of growth for the regions they serve. Through continued investment, we’re creating jobs, supporting local economies, and enabling trade and tourism across the North, South and Midlands.
“As the UK’s largest private investor in transport infrastructure outside London, we’re unlocking the full potential of our runways through ambitious capital programmes. These investments will help deliver the Government’s Industrial Strategy and ensure prosperity is shared across the country.
“We’re also proud of the global success of CAVU, which has grown from a start-up into a major international business in just a few years.
“Looking ahead, we remain focused on sustainable growth. Our new five-year Sustainability Strategy builds on two decades of progress and reinforces our commitment to reducing emissions, creating opportunities, and supporting the communities we serve.
“I want to thank all our colleagues across MAG. Their hard work and commitment have made these results possible and will continue to drive our success in the years to come.”
In September 2024, Manchester Airport served 30 million passengers over a 12-month period for the first time its history, placing its alongside other major international airports such as La Guardia in New York and Melbourne Airport in Australia.
The UK’s global gateway in the North ended the period having served more than 31.1 million passengers, up 8.4% on 2023-24.
Manchester Airport welcomed a number of new carriers across the year. Its long-haul connectivity was strengthened as Juneyao Airlines started its three times weekly service to Shanghai – creating the first ever direct connection to the Chinese city from outside of London.
The publication of today’s results also coincides with the inaugural flight of IndiGo’s Manchester to Mumbai service, signalling India’s largest carrier’s first route in Europe.