6 January 2011

Manchester Airport Group (MAG) has negotiated a new £280 million five-year financing facility with a consortium of seven major banks. The facility refinances existing funding and will support future investment and growth of MAG.

 The new financing will allow MAG to invest in projects including an upgrade for Manchester Airport’s Terminal 3 and the resurfacing of Runway 1, which starts in January 2011 and will cost £20 million.