Future
MAG have considered whether to float and invite private investors over the past few years to generate further capital for new developments. The Group is publicly owned as a holding company by the ten local authorities of Greater Manchester. Manchester owns the largest stake of 55%, while the other nine boroughs own a minority 5% stake due to their smaller size. As part of the 2012 restructure plans, the nine smaller boroughs would dilute their stake to invite private investors.
The Group has previously expressed an interest in London Stansted and Edinburgh Airport, both of which are for sale. In 2012, MAG CEO Charlie Cornish ruled out bidding for Edinburgh because the Group was searching for a bigger airport to takeover. Stansted remains the only desirable British airport due to its comparable size with Manchester and potential growth. However, MAG have not ruled out purchasing a European or American airport.
In 2011 the proposed Manchester Airport City office and commercial space development abutting the airport became one of the Governments new low tax Enterprise Zones.
Read more about this topic: Manchester Airports Group
Famous quotes containing the word future:
“All radio is dead. Which means that these tape recordings I’m making are for the sake of future history. If any.”
—Barré Lyndon (1896–1972)
“Where have those flowers and butterflies all gone
That science may have staked the future on?
He seems to say the reason why so much
Should come to nothing must be fairly faced.....”
—Robert Frost (1874–1963)
“Bobby read his future in women; his girls were omens, changes in the weather, and he’d sit all night in the Gentleman Loser waiting for the season to lay a new face down in front of him like a card.”
—William Gibson (b. 1948)