Investment programmes drive growth for MAG

Manchester Airports Group (MAG), the UK’s largest airport operator, has revealed it has handled record passenger numbers over the past year amid heavy investment in its infrastructure in its annual results.

The group, which operates Manchester, London Stansted and East Midlands airports, welcomed more than 66 million people through its terminals in the year to 31 March 2026, up 1.9% year-on-year. Passenger growth has been supported by growth of its core airlines, including Ryanair, easyJet, Jet2.com and TUI, in their short-haul routes and frequencies. MAG has also attracted a number of new long-haul routes to its airports.

MAG now connects passengers across the country to 284 global destinations, with one in five UK air passengers using a MAG airport. The Group’s annual economic impact increased to £14bn this year and the direct routes its airports provide link the UK to 75% of global GDP. 

The £1.5 billion transformation of Manchester Airport neared completion during the year, with the final phases delivered post year-end. The decade-long scheme has doubled the capacity of Terminal 2 – creating a world-class facility for passengers – and unlocked spare capacity on Manchester’s existing two runways. 

That underpinned a strong performance for the UK’s global gateway in the North. It handled a record 32.3 million passengers during the year, up 3.6%. London Stansted handled 30 million passengers for the first time in its history. East Midlands handled 4 million. 

While continuing to grow, all MAG airports delivered strong service levels. Across the year, 99% of passengers passed through security in 15 minutes or less, with more than 90% saying they would recommend the airport they used.

Outside of airport operations, MAG’s travel services business, CAVU, also grew its global footprint. It now operates 32 airport lounges internationally and sells travel products and services in 58 countries.

In a new venture, MAG was appointed by the Bahamian Government to operate and maintain Grand Bahama International Airport. The first contract of this nature, the appointment reflects the Group’s track record of driving growth through investment in the regions it serves.  

MAG CEO Ken O’Toole said: 

“We are pleased to release these solid results, underpinned by record passenger volumes at our airports. That reflects our steadfast focus on maximising the choice of direct destinations people can access through our airports, which serve catchments areas covering 70% of the UK population. 

“We work hard with our airlines to provide this connectivity at great value and invest in our people, facilities and systems to provide a good airport experiences for our 66m passengers. 

“By growing our route networks, we help people experience new places and enable trade and investment in high-value sectors that will power growth and productivity in regions across the UK. That has seen MAG deliver its biggest ever economic contribution to the UK, at £14bn. 

“We have continued to invest for growth, in particular by delivering the final phases of Manchester Airport’s £1.5bn Transformation Programme. It unlocks spare capacity on its exiting two runways and paves the way for it to play an even greater role in the creation of a globally-competitive Northern Growth Corridor. 

“We were pleased to secure permission to grow passenger numbers at London Stansted up to 51m and are poised to deliver a £1.1bn investment programme to take us towards that.  

“Our long-term ability to continue growth-enabling investments of this nature is influenced by the fiscal environment in which we operate. The current Government has been hugely supportive of aviation in policy terms, but risks undermining that with a tax regime that creates a barrier to investment-led growth. MAG’s business rates have already more than doubled and there remains no clarity on what airports’ future liabilities will look like. 

We have recently responded to a government consultation on business rates, with MAG stating that any change needs to deliver outcomes that are fair, predictable, proportionate and encourage future private sector investment. 

“Outside of our core airports business, CAVU continues to show good growth as we expand our global footprint and the variety of products traded through its digital marketplace.  

“The diversity of our business gives us a resilience that leaves us well placed to navigate the macroeconomic factors our industry faces and look forward to delivering a robust summer season.  

“I am proud of the progress we made this year towards our sustainability targets, reducing emissions in our own operations and the UK exceeding the Government’s Sustainable Aviation Fuel mandate for 2025. We also continued deliver our industry-leading Skills Programme, highlighted by the Careers Festivals delivered across the Group. 

“None of this would be possible without the hard work and dedication of our more than 8,000 colleagues. I would like to thank all of them for their commitment they have shown which has been central to this year’s performance and will be key to our continued success.”