Manchester Airport Group (MAG), which owns Manchester, London Stansted, and East Midlands airports, reported a sharp pull-back in passenger growth to 1.9% for the year to March 31, down from 6% the previous year. The total passenger numbers reached 66.3 million, with the slowdown attributed to pressures from the Iran war.
Airport-by-airport performance
Manchester Airport saw the strongest growth among the three, with passenger numbers rising 3.6% to 32.3 million. However, this was significantly lower than the 8% growth recorded in 2024-25. London Stansted experienced a mere 0.4% increase, down from 4.9% the previous year, while East Midlands Airport saw a decline of 1.3%.
Financial resilience despite challenges
Despite the slowdown in passenger growth, MAG reported a 4.5% rise in pre-tax profits to £227.4 million for the year ending March 31. Revenues increased by 12.8%. The group stated: “Despite heightened geopolitical and economic uncertainty, Manchester Airport Group has demonstrated resilience and momentum, delivering strong results while continuing to invest for long-term growth and value creation for its stakeholders. The passenger growth Manchester Airport Group has seen, much like the overall resilience of the sector, reflects the fundamental desire people have to travel and the resulting growth it creates for individuals, businesses, regions and nations.”
Broader industry impact
The wider aviation sector has faced pressures from the Iran-US conflict. Heathrow Airport reported last month that it expects passenger numbers to decline by 1.1% this year due to the war. Heathrow forecasts between 80.1 million and 84.5 million passengers in 2026, with a base case of 83.6 million, compared to 84.5 million in 2025. Heathrow noted that its forecast “reflects the risk that continued volatility in the Middle East could dampen broader traffic volumes, with impacts extending beyond the region to global travel demand over the remainder of the year.” An interim peace deal between Iran and the US was signed in late March.
Record milestones
Despite the drop in growth, MAG achieved new records for Manchester and London Stansted airports. London Stansted “broke into the ’30 million club’,” with the scale of its operations now likened to La Guardia in New York and Melbourne in Australia, according to MAG.
