UK airports receive £325m boost

The four airports in the Manchester Airports Group are to benefit from a £325 million loan. The funding will go towards expanding terminal facilities at Manchester airport, a new terminal at Nottingham East Midlands and further investment at Humberside and Bournemouth airports. The revolving credit facility provided by a group of banks will also be used to refinance exiting debt. MAG financial director Philip Ridal said: “Our strategy involves enhancing the facilities at airports across the group while significantly benefiting passenger comfort. “This £325 million revolving credit facility is another majot step forward for the Manchester Airports Group. It is the first syndicated bank loan for MAG and establishes the Manchester Airports Group name in the banking and capital markets.” Report by Phil Davies