The UK’s second largest airport operator, Manchester Airports Group (MAG), is to review its investment in Humberside Airport.

MAG, which also owns Manchester Airport, East Midlands Airport and Bournemouth Airport, has an 82.7% majority stake in the airport but has revealed that a possible transfer of ownership should be considered for the best long-term future of the airport.

Humberside Airport handles in the region of 500,000 passengers per year with a core catchment area of more than one million people living within 45 minutes of the airport.

MAG, which is publicly by the ten local authorities of Greater Manchester, bought its stake in Humberside Airport in 1999 for £10 million investing nearly £7 million to improve and develop the airport’s infrastructure.