Who wants to unite with Manchester?

Abandoning the habits of a lifetime, Manchester Airports Group (MAG), under the command of relatively new and aviation outsider CEO Charles Cornish, has announced it is seeking equity investment to equip it to bid for one or more airports; the two going hand-in-hand. Momentarily it is not clear exactly what MAG has in mind and neither it nor the municipal owners are being forthcoming either. MAG is Britain’s second largest airport operator after the depleted BAA and is almost unique in that it remains in public ownership. Who are the potential investors and just what would they be buying into? [2780 words]

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This report contains the following subheadings:

• Fitting analogy
• Not star performers
• Rearguard action
• Saving for a rainy day in the Rainy City
• Scotland no more
• Little foreign management experience
• Local precedent

This report contains the following charts and tables:

• Manchester Airport seat capacity by carrier: 20-Feb-2012 to 26-Feb-2012