Manchester Airport dividend spare city services from cuts
- Written by Roberto Castiglioni
Manchester City Council is to drop cuts to social services thanks to a higher than expected mid-year dividend from its stake in the Airport
Third busiest in the UK, Manchester Airport is owned by MAG, a holding company owned by Australian IFM Investers and ten borough councils. Manchester City Council is the largest stakeholder among the group of councils.
Manchester Council is to receive a mid-year dividend of eleven million pounds from the Airport. Free swimming for pensioners and children and lollipop patrols on 'medium' risk crossings are among the services that will not be scrapped thanks to the cash injection.
The City Council also plans to use part of the dividend to boost mental health and learning disability support services.
Manchester Airport plays a significant role in its local community. Manchester Airport’s Young Persons Academy supports young people between 16-19 years old. The Academy is a consortium between the Airport, Stockport College, and Manchester Metropolitan University. To date, 51 young people have passed through the academy and 14 are now in employment.
Throughout the last two years Manchester Airport Group invested £298,843.48 in community groups and charities in the areas surrounding Manchester, Stansted and Bournemouth airports, helping 229 organisations.