{"id":41284,"date":"2022-07-07T09:31:04","date_gmt":"2022-07-07T09:31:04","guid":{"rendered":"https:\/\/tahrir2day.com\/news\/2022\/07\/07\/manchester-airports-group-posts-320m-annual-loss\/"},"modified":"2022-07-07T09:31:04","modified_gmt":"2022-07-07T09:31:04","slug":"manchester-airports-group-posts-320m-annual-loss","status":"publish","type":"post","link":"https:\/\/tahrir2day.com\/news\/2022\/07\/07\/manchester-airports-group-posts-320m-annual-loss\/","title":{"rendered":"Manchester Airports Group posts \u00a3320m annual loss"},"content":{"rendered":"
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Manchester Airports Group (MAG) lost \u00a3320m in the year to the end of March as passenger numbers were just a third of pre-pandemic levels.<\/b><\/p>\n<\/div>\n

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MAG, which owns Manchester, London Stansted and East Midlands airports, said its combined losses over the past two years had reached \u00a3694million.<\/p>\n<\/div>\n

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Although the group’s sales fell by 48%, the decline was significantly smaller than in the previous year.<\/p>\n<\/div>\n

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MAG served 20.5 million passengers in the 12 months ended March.<\/p>\n<\/div>\n

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While that was three times as many last year, in 2019\/20 it was still only a third of the total.<\/p>\n<\/div>\n

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MAG, which is nearly two-thirds owned by Greater Manchester’s 10 Borough Councils, said its recovery from the worst of the pandemic has “outperformed” other UK airports.<\/p>\n<\/div>\n

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Passenger numbers in May reached 82% of pre-pandemic levels, it said.<\/p>\n<\/div>\n

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“With travel restrictions in place for almost all of the last 12 months, it has been another uncertain and unpredictable year for MAG and the airline industry as a whole,” said Chief Executive Charlie Cornish. <\/p>\n<\/div>\n

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An increase in travel demand has coincided with staff shortages.<\/p>\n<\/div>\n

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Manchester Airport recently appointed a new chief executive, Chris Woodroofe, after weeks of travel chaos.<\/p>\n<\/div>\n

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Mr Cornish said the pace of recovery in demand for air travel “has presented its own challenges” and recruiting new staff “has taken longer and has been more difficult than expected”.<\/p>\n<\/div>\n

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MAG said more than 1,500 new employees had taken up positions at the three airports since January.<\/p>\n<\/div>\n

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There are also hundreds of new employees working for ground handling companies, retailers and airlines.<\/p>\n<\/div>\n

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MAG said waiting times at security have “improved”, with 92% of June passengers at Manchester Airport being cleared in less than half an hour.<\/p>\n<\/div>\n

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