News MAG to review Humberside ownership

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MAG to review Humberside ownership

Manchester Airports Group (MAG) has confirmed plans to review its ownership of Humberside Airport.

Manchester Airports Group (MAG) has confirmed plans to review its ownership of Humberside Airport.

The UK’s second largest airport operator is currently examining its 82.7 per cent share in the North Lincolnshire terminal.

MAG bought its majority stake in Humberside for £10 million in 1999 and has invested £7 million in its infrastructure.

However, the group suggests that for the airport to sustain long-term growth a "possible transfer of ownership" is needed.

Selling Humberside would enable MAG to focus on its three other airports, Manchester, East Midlands and Bournemouth, which handle a collective 28 million passengers per year.

"Humberside Airport is a solid business but the attention needed to maximise its full potential may not fit easily with the group’s emerging strategy," said MAG chief executive Geoff Muirhead.

Fellow airport operator BAA put Gatwick Airport up for sale this month following a report from the Competition Commission which suggested the Spanish-owned group’s dominance in the south-east was detrimental to passenger choice and competition.

Gatwick is the busiest single-runway airport in the world and parties interested in the airport include Virgin Atlantic and Peel Airports, which already owns Liverpool John Lennon Airport and Durham Tees Valley.

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