MAG upbeat despite flat earnings; interest in BAA

Manchester Airports Group CEO Charlie Cornish warned that operating profits for the 12 months to 31-Mar-2011 are likely to be flat year-on-year due to the impact of the ash cloud and winter weather (menmedia.co.uk, 03-Mar-2011) The CEO stated he expects to benefit from the non-recurrence of these events and improve profitability in FY2012. Mr Cornish stated Manchester's strategy for future growth is a focus on long-haul international routes to destinations in the US, the Middle East, Asia and India, as well as attracting more LCCs. MAG has also expressed interest in BAA assets which will be up for sale.