Ryanair and MAG announce 10-year growth agreement at London Stansted
Ryanair and Manchester Airport Group (MAG) announced (16-Sep-2013) the conclusion of a 10 year growth agreement at UK's London Stansted Airport, which will see Ryanair grow its traffic at Stansted by over 50%, from 13.2 million passengers in 2012 to over 20 million p/a in return for a package of lower costs and more efficient facilities at Stansted. This agreement will account for up to 25% of Ryanair's five year growth plans to 2019. Ryanair expects its Stansted traffic in year 1 of the 10-year agreement to grow from 13.2 million to over 14.5 million. The LCC also released its Stansted summer 2014 schedule which will feature:
- 43 based aircraft in Stansted (up from 37);
- 120 routes (up from 116);
- Four new routes to Bordeaux, Dortmund, Lisbon and Rabat;
- Over 2000 weekly services (up from 1800)
- Traffic growth from 13.2 million to over 20 million p/a.
Ryanair CEO Michael O'Leary commented: "Ryanair is pleased to have agreed a new 10 year growth deal at London Stansted with MAG. This deal will see our Stansted traffic grow by over 50%, from 13.2m in 2012 to over 20m p.a. in return for lower costs and more efficient facilities at Stansted. This agreement, which will create over 7000 new jobs in Stansted, proves how UK airports can flourish when released from the dead hand of the BAA monopoly and is the first dramatic initiative by MAG to reverse 7 years of decline, during which Stansted's traffic fell from 23.8m to 17.5m. As Stansted's biggest airline, Ryanair looks forward to a decade of growing traffic, routes and jobs at Stansted". MAG CCO Ken O'Toole said: "The new long term agreement between Ryanair and MAG at Stansted shows that competition really does work, and it represents great news for both passengers and UK businesses. The deal secures a new and exciting era for both Ryanair and Stansted, and we're delighted to be supporting the airline's growth over the next ten years. Today's announcement, coupled with our GBP80m investment in the terminal, confirms that Ryanair shares our confidence, and shows how we are succeeding in transforming Stansted under new ownership. Stansted has a really bright future in providing international connectivity for the UK." [more - original PR]