Manchester Airports Group (MAG), which is owned by ten councils in England's northwest, has reported a 16.4 per cent rise in year-on-year pre-tax profits to £96.5 million.

Annual revenues in the 12 months to March 31st climbed from £385.5 million to £395.7 million after a cost-cutting exercise and a successful year for the group's car parks and retails businesses.

The group operates Manchester, which is one of the UK's 'big four' airports, as well as East Midlands, Bournemouth and Humberside Airports.

Manchester Airport, which serves 225 destinations, saw its income grow by 3.2 per cent to £286.5 million.

Chief executive Geoff Muirhead told the Manchester Evening News that he is upbeat about the group's future.

"We have made real progress in the past year, which reflects the hard work that has gone on in recent years," he said.

Earlier this year, budget airline easyJet announced new winter flights from Manchester to Sofia and Geneva.