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Manchester Airports Group cargo revenues increase 3.8pc in first half

BRITAIN's Manchester Airports Group (MAG) operating profit (EBITDA) in the first half of its financial year increased 7.9 per cent year on year to GBP217.8 million (US$273.9 million), drawn on revenues of GBP482 million, which increased 8.2 per cent.

MAG also posted a 3.8 per cent year-on-year increase in cargo revenue in the six months ending September 30, reported London's Air Cargo News.

Passenger numbers increased 10.1 per cent at Manchester, 6.4 per cent at Stansted and 6.9 per cent at East Midlands airports, but Bournemouth, the group's smallest airport, suffered a 20 per cent decline.

"Our airports will continue to be among the most significant drivers of economic growth in their regions, as spare capacity enables them to grow more quickly than other airports," said CEO Charlie Cornish.

"With the decision on Heathrow now made, government must quickly commit to developing a new aviation policy that will maximise opportunities for both the country as a whole and the regions our airports serve," he said.

The MAG Group said improvements in cargo revenues in the April-September period were driven by new all-cargo flights and e-commerce.

"MAG Cargo's income has continued to benefit from growth in e-commerce and internet shopping, with integrated express carriers expanding their operations," it said.

"MAG's pure cargo operation has also been bolstered by new direct flights launched by Etihad at East Midlands and London Stansted. MAG's airports are ready to provide the capacity, which will be demanded by freight operators as other airports in the South East fill up over the coming 10-15 years."

The airport group also released a new Trade Tracker report to show the value of cargo moved through its airports.

The standout figure in the report, according to MAG, was the more than GBP1 billion worth of goods traded with China through East Midlands, Stansted and Manchester during the period.

This moved China from MAG's ninth to third most important non-EU export market. The most valuable commodity exported to China from the UK is medicine, while the most valuable commodities imported from China are mobile phone components and SD cards.

"The US remains by far the most important global export market for the UK, as it has been for the past 20 years," MAG said, adding that export value to the US through MAG's airports hase almost doubled in 10 years.

"The rise of Qatar and China have come at the expense of more traditional trading nations such as Switzerland and Turkey, who were both in the top five in 1996 on the strength of the export of aircraft parts."