MAG owns three UK airports: Manchester Airport (above), East Midlands Airport and London Stansted.
Manchester Airports Group (MAG), which owns three UK airports, raised £300 million ($373 million) through the issuance of an 18-year bond it says was “supported by a number of UK and international institutional investors.”
MAG owns East Midlands Airport (EMA), Manchester Airport (MAN) and London Stansted Airport (STN). The raising of proceeds marked the second bond issuance in seven months—the previous bond issued in September 2023 raised £360 million in capital.
MAG says proceeds from the bonds will support investment in infrastructure, including an extension of STN’s passenger terminal.
“By supporting this bond, we can focus on delivering the infrastructure transformation which will improve the airport experience for our passengers and allow us to achieve our long-term growth targets,” MAG CFO Jan Bramall says in a statement.
Meanwhile, MAG reports its three airports handled 61.3 million passengers for the 12 months ended March 31, up 13.4% year-over-year and its highest 12-month total ever.
STN handled 28.5 million passengers in the 12 months ended March 31, up 11.8% year-over-year. MAN handled 28.7 million for the 12 months, up 13.9% year-over-year. EMA handled 4.1 million passengers in the timeframe, up 22.4% year-over-year.
“These latest figures demonstrate that our airports are meeting the needs of passengers up and down the country, which in turn helps create jobs and drive economic prosperity in the regions we serve,” MAG CEO Ken O’Toole says. “London Stansted is now serving more passengers than it did before the pandemic, which is testament to the value and ease it offers passengers.”
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