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:
“The moments of the past do not remain still; they retain in our memory the motion which drew them towards the future, towards a future which has itself become the past, and draw us on in their train.”
—Marcel Proust (1871–1922)
“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)
“I shall soon be six-and-twenty. Is there anything in the future that can possibly console us for not being always twenty-five?”
—George Gordon Noel Byron (1788–1824)