Cargo and earnings surge at MAG airports

UK airport group MAG – owner of Manchester, London Stansted, East Midlands and Bournemouth – reported that its cargo income had grown strongly in the financial year ended 31 March.
Continued growth in internet shopping and new routes boosted freight revenue by 7.0% year-on-year to £22.7m, while cargo volume across the group was up 4.8%.
Increased cargo carryings, along with a 7% surge in passengers to 2.3m, contributed to 12% growth in earnings to £317.7m.
New routes announced or started this year include Manchester to Beijing, San Francisco, Boston, Phuket, Mauritius and from London Stansted to Orlando, Cancun and Las Vegas. Stansted also added a slew of British Airways flights to new European destinations.
MAG chief executive Charlie Cornish said: “Our airports have been able to outperform their competitors over the last year largely because they still have the capacity to grow. In the coming years, as this country continues to see an increase in air travel, Government must ensure that aviation policy makes best use of capacity at airports where it already exists, such as London Stansted and Manchester.
“MAG’s business strategy has a long-term focus with resilient foundations. This will stand us in good stead to respond to any adverse consequences that may be felt by the UK economy following the country’s decision to the leave the European Union (EU).
“As the country enters a new era, we will be working closely with the rest of our industry to ensure that once we leave the EU the UK remains a member of the European single aviation market. At no point have the excellent international air links that this country’s airports provide been more vital to the nation’s future prosperity and economic growth.”