Manchester Airports Group (MAG)[1] | |
Company type | Public holding |
Industry | Transport |
Founded | 2001 |
Headquarters | Manchester Airport, Manchester, Greater Manchester, England, United Kingdom |
Key people |
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Products | Airport operations and services |
Revenue | £893.4 million (2020)[2] 3.7% |
£382.1 million (2020)[2] 6.8% | |
Total assets | £4.2144 billion (2020)<[3] 0.01% |
Total equity | £1.3457 billion (2020)[2] 9.8% |
Owner |
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Number of employees | 40,000 |
Subsidiaries | MAG Developments CAVU Manchester Airport Stansted Airport[4] East Midlands Airport |
Website | www |
Manchester Airports Group, known as MAG is a British airport operator which owns three British airports: Manchester Airport, East Midlands Airport, and Stansted Airport.
The Group operates under Manchester Airports Holdings Limited, a holding company owned by the ten metropolitan borough councils of Greater Manchester, and Australian investment fund IFM Investors.[5] Founded in 2001, MAG is the largest UK-owned airport operator, following the purchase of BAA by Ferrovial in 2006. In the 2023/24 financial year, 61.3 million passengers used MAG airports.[6]
Of the ten metropolitan boroughs of Greater Manchester, Manchester City Council holds the largest stake, at 35.5%. The remaining nine councils hold a total of 29%. IFM Investors own a 35.5% stake in MAG. The Group has its registered office at Manchester Town Hall.[7] MAG operates on a commercial basis at arm's length from its public owners who only take a dividend from profits. This was £20 million in 2010 while MAG retained £80 million from the £100 million profit.[8]