Manchester Airports Group delivers record year as investment programmes continue

A record year for Manchester Airports Group (MAG) and growth of its international footprint has resulted in the group being primed for its latest phase of infrastructure investment.

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 31 March on 1st July.

Between 1 April 2024 – 31 March 2025, the Group 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 £263.2 million after accounting for one-offs, up 9.8% on FY24.

The strong performance was driven by growth at all its airports, with the Group serving a combined total of 65 million passengers for the first time in its history.

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 including India’s biggest airline IndiGo, which will begin a new service from Manchester to Mumbai – its first in Europe.

CAVU, a business founded by MAG with the aim of improving travel experiences, also had a strong year. The business, 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’s investment programmes will drive growth and prosperity in the regions it serves, by creating jobs and stimulating international trade in high-value sectors.

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.”