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:
“Do not discourage your children from hoarding, if they have a taste to it; whoever lays up his penny rather than part with it for a cake, at least is not the slave of gross appetite; and shows besides a preference always to be esteemed, of the future to the present moment.”
—Samuel Johnson (1709–1784)
“I would sell my life to avoid
the pain that begins in the crib
with its bars or perhaps
with your first breath
when the planets drill
your future into you....”
—Anne Sexton (1928–1974)
“Only he who can view his own past as an abortion sprung from compulsion and need can use it to full advantage in the present. For what one has lived is at best comparable to a beautiful statue which has had all its limbs knocked off in transit, and now yields nothing but the precious block out of which the image of one’s future must be hewn.”
—Walter Benjamin (1892–1940)