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:
“To pin your hopes upon the future is to consign those hopes to a hypothesis, which is to say, a nothingness. Here and now is what we must contend with.”
—Angela Carter (1940–1992)
“In no nation are the institutions of progress more advanced. In no nation are the fruits of accomplishment more secure. In no nation is the government more worthy of respect. No country is more loved by its people. I have an abiding faith in their capacity, integrity and high purpose. I have no fears for the future of our country. It is bright with hope.”
—Herbert Hoover (1874–1964)
“I am slow to listen to criminations among friends, and never espouse their quarrels on either side. My sincere wish is that both sides will allow bygones to be bygones, and look to the present & future only.”
—Abraham Lincoln (1809–1865)