The joint biggest shareholder in Manchester Airports Group has finally spoken out amid the chaos plaguing passengers and staff shortages. Between them, Greater Manchester's town halls have a 64.5 per cent stake in MAG, which owns and operates the airport as well as Stansted in London and East Midlands airport.
Manchester City Council has a 35.5 per cent stake, as does IFM Investors, an Australian investment fund. The nine other councils hold the remaining shares, 29 per cent, but the council and IFM are together the largest shareholders.
In a statement to the Manchester Evening News - after days of passenger frustration over long queues, security gate chaos and post-flight baggage delays - IFM said it sincerely regretted the impact delays were having on holidaymakers. There was no apology, but IFM revealed it was working with the MAG senior management team to 'resolve the issues', citing labour shortages.
