• Contact
  • DMCA
  • Privacy Policy
Monday, March 8, 2021
Travel News Today
Booking.com
  • Home
  • Travel News
  • Airline
  • Hotel
  • Tourism
  • Technology
  • Events
  • Cruise
  • Car Rental
  • Travel TV
No Result
View All Result
Travel News Today
  • Home
  • Travel News
  • Airline
  • Hotel
  • Tourism
  • Technology
  • Events
  • Cruise
  • Car Rental
  • Travel TV
Travel News Today
No Result
View All Result
Home Airline

MAG reports huge losses for summer season | News

Travel News by Travel News
December 9, 2020
in Airline
0 0
0
Manchester Airport cuts operations to one terminal | News

Booking.com

Manchester Airport Group (MAG) has reported half-year results detailing the full impact of the Covid-19 on the aviation sector.

The company – which owns Manchester, Stansted and East Midlands airports – saw passenger numbers across its operations fall 89 per cent during the six months to September 30th.

Just 4.2 million people passed through the three airports during the period, down from 36 million a year ago.

As a direct result MAG, in common with every other major aviation business, made a significant loss over the summer.

The company reported a loss before tax of £208 million for the six-months, down from a profit of £187 million for the same period last year.

However, MAG said shareholders has continued to be supportive, allowing the airport operator to prepare for a recovery moving into 2021.

Shareholders provided £300 million of new equity over the summer, which together with £340 million raised through the sale of non-core property portfolio, contributed to a cash position of £624 million at the end of September.

In addition, banks and listed bondholders endorsed the financial and strategic response of the group by agreeing to waive financial covenant tests in September and March next year, as well as an…

Booking.com

Source Breaking Travel News

Tags: hugelossesMAGNewsreportsSeasonsummer
ShareTweetShare
Travel News

Travel News

Travel is the movement of people between distant geographical locations. Travel can be done by foot, bicycle, automobile, train, boat, bus, airplane, ship or other means, with or without luggage, and can be one way or round trip. Travel can also include relatively short stays between successive movements.

Related Posts

IATA calls for further support following disappointing October | News
Airline

IATA calls for further support following disappointing October | News

December 9, 2020
IAG reports huge losses for third quarter | News
Airline

BA CityFlyer to offer Southampton services next summer | News

December 9, 2020
Government to introduce airport support package | News
Airline

Industry calls for overhaul of FCDO travel advice | News

December 9, 2020
Qatar Airways to return to Haneda on Friday | News
Airline

Qatar Airways to return to Haneda on Friday | News

December 9, 2020
Delta works with KLM for new Covid-secure flights | News
Airline

Delta works with KLM for new Covid-secure flights | News

December 9, 2020
Cathay Pacific latest to offer free Covid-19 insurance | News
Airline

Cathay Pacific latest to offer free Covid-19 insurance | News

December 8, 2020
Next Post
IATA calls for further support following disappointing October | News

IATA calls for further support following disappointing October | News

Leave a Reply

avatar
This comment form is under antispam protection
avatar
This comment form is under antispam protection
  Subscribe  
Notify of
Booking.com
ADVERTISEMENT
  • Trending
  • Comments
  • Latest
eDreams Odigeo launches airline price tracker | News

eDreams Odigeo launches airline price tracker | News

June 3, 2020
Kempinski reopens all hotels in China as Covid-19 lockdown recedes | News

Kempinski reopens all hotels in China as Covid-19 lockdown recedes | News

May 19, 2020
Anantara Desaru Coast Resort & Villas to take brand into Malaysia in December | News

Anantara Desaru Coast Resort & Villas to take brand into Malaysia in December | News

September 21, 2019
Waldow to lead pre-opening marketing push at Andaz Dubai the Palm | News

Waldow to lead pre-opening marketing push at Andaz Dubai the Palm | News

September 21, 2019
Chedi Katara Hotel & Resort to open in Doha next year | News

Chedi Katara Hotel & Resort to open in Doha next year | News

0
Thomas Cook takeover hits last minute hitch | News

Thomas Cook takeover hits last minute hitch | News

0
SAS unveils first new livery in two decades | News

SAS unveils first new livery in two decades | News

0
Anantara Desaru Coast Resort & Villas to take brand into Malaysia in December | News

Anantara Desaru Coast Resort & Villas to take brand into Malaysia in December | News

0
Chedi Katara Hotel & Resort to open in Doha next year | News

Chedi Katara Hotel & Resort to open in Doha next year | News

March 8, 2021
First ‘Covid-19-free’ Lufthansa flight takes off in Germany | News

UNWTO: A third of destinations completely closed to tourism | News

March 8, 2021
Tripadvisor launches subscription model to boost direct bookings | News

Tripadvisor launches subscription model to boost direct bookings | News

March 8, 2021
Westwell steps down as Cheval chief executive | News

Westwell steps down as Cheval chief executive | News

March 8, 2021
  • Contact
  • DMCA
  • Privacy Policy
No Result
View All Result
  • Contact
  • DMCA
  • Privacy Policy

© 2019 Travel News

Login to your account below

Forgotten Password?

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
wpDiscuz