Manchester Airport has reported that passenger numbers have returned to pre-pandemic levels for the first time and revenues have increased significantly.
In the year to March 31, the airport handled 28.8 million passengers, up 14.3% from 2018. In October last year, passenger numbers surpassed the same month in 2019, before the pandemic, and continued to reach new records throughout the rest of the year.
The figures were revealed as Manchester Airport Group Investment Limited published its annual financial report just a week after a power outage caused major problems at the airport and a series of flight cancellations. The report showed revenue of £1.2 billion, up 20.5% on the previous year, with increasing passenger numbers at the three airports it controls – Manchester, Stansted and the East Midlands.
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The group saw a big increase in operating profits from £28.1m to £240.8m, although the previous year's figure was distorted by one-off costs relating to its withdrawal from the Greater Manchester Pension Fund.
The group said: “Over the past 12 months, MAG has strengthened the UK's global connectivity across its airports, securing new services to locations across Europe, America, the Middle East and Africa, expanding international travel options for passengers across the country. Continued passenger growth has underpinned MAG's strong financial performance for the 12 months to 31 March 2024.”
“Passenger numbers this year are 61.3 million, up 13.5% from last year's 54 million, which equates to 102.8% of pre-pandemic levels.”
The group plans to invest more than £2 billion at its three airports over the next one to five years and said it was well on track to develop new security equipment which will mean passengers no longer need to remove liquids or large electrical items from their baggage before passing through scanners.
The airline added that satisfaction remains high, with 91% of passengers rating their experience as 'good' or above. Manchester, Stansted and the East Midlands all received the highest rating from the Civil Aviation Authority for the service provided to passengers who require travel assistance, it said.