Statement on Manchester Airports Group dividend
Manchester City Council will receive a share of the £38.6m MAG interim dividend for the half-year to September 2015 of around £13.8m, which was announced this morning, Thursday 3 December.
Sir Richard Leese, Leader of Manchester City Council, said: "Thanks to the far-sighted decision taken by the council in the 1980s to acquire a large stake in Manchester Airport, the group's subsequent expansion and ongoing success, we are able to receive this interim dividend which will be used in full to support council services for the city's people. We are awaiting the details of our financial settlement from government and will doubtless still have some difficult decisions to make but this will give us slightly more room for manoeuvre and will help protect some of our most vital services. It is another testament to the huge importance of the airport as an ongoing asset to the city."