Battle · 7 companies

UK airports

Cleared for take-off, or grounded?

Heathrow leads on 3 of the five measures that matter most: turnover, pre-tax profit, profit margin, growth and net assets. Heathrow is the biggest by turnover at £3,547m, against £1,515m at Manchester Airports Group. Edinburgh Airport keeps the most of every £100 it takes, £49.72 as pre-tax profit.

The year ends are up to 15 months apart, so this compares each company's most recent filing rather than the same twelve months. Manchester Airports Group and Edinburgh Airport file group accounts that include subsidiaries; Heathrow, Gatwick, Birmingham Airport and Bristol Airport file for a single company, which flatters the groups on size.

Spark Intel Research Desk·Last updated ·Source: Companies House filed accounts

Accounts compared: Heathrow to Dec 2025 · Gatwick to Dec 2025 · Manchester Airports Group to Mar 2026 · Edinburgh Airport to Dec 2025 · Birmingham Airport to Mar 2025 · Bristol Airport to Dec 2024 · Luton Airport to Dec 2024

Biggest by turnover

Heathrow

£3,547m

Highest profit margin

Edinburgh Airport

49.7%

Fastest-growing turnover

Birmingham Airport

+20.3%

The Numbers

#CompanyTurnoverChangePre-tax profitMarginEmployeesPay per headTurnover per headNet assetsBank and cashAccounts toBasis
1 HeathrowHeathrow Airport Limited £3,547m +1.9% £1,118m 31.5% 7,789 £60,000 £455,000 £2,473m £298m Dec 2025 Single company
2 Manchester Airports GroupManchester Airports Holdings Limited £1,515m +12.8% £90m 6.0% 7,816 £55,000 £194,000 £775m £268m Mar 2026 Group
3 GatwickGatwick Airport Limited £1,132m +0.2% £464m 41.0% 2,779 £76,000 £407,000 £297m £218m Dec 2025 Single company
4 Edinburgh AirportEdinburgh Airport Limited £359m +14.1% £178m 49.7% 958 £63,000 £375,000 £143m £30m Dec 2025 Group
5 Luton AirportLondon Luton Airport Operations Limited £304m +2.6% £128m 42.0% 908 £62,000 £335,000 £155m £20m Dec 2024 n/d
6 Birmingham AirportBirmingham Airport Limited £222m +20.3% £76m 34.2% 786 £47,000 £282,000 £312m £49m Mar 2025 Single company
7 Bristol AirportBristol Airport Limited £204m +14.2% £80m 39.5% 373 £60,000 £546,000 £275m £46m Dec 2024 Single company

Ranked by turnover. Click any column to sort. The leader on each measure is highlighted. Movements are against each company's own prior year. Pre-tax profit is filed except where marked (est.).

Category winners

Biggest by turnover

Heathrow

£3,547m

Most pre-tax profit

Heathrow

£1,118m

Highest profit margin

Edinburgh Airport

49.7%

Fastest-growing turnover

Birmingham Airport

+20.3%

Biggest employer

Manchester Airports Group

7,816 staff

Highest pay per head

Gatwick

£76,000

Most turnover per head

Bristol Airport

£546,000

Largest net assets

Heathrow

£2,473m

Most cash

Heathrow

£298m

The Takeaway

  1. Edinburgh Airport converts the most of its turnover. Of every £100, £49.72 reaches pre-tax profit, against £5.95 at Manchester Airports Group.
  2. Heathrow is the largest on the top line, £3,547m of turnover, 2.3x Manchester Airports Group's £1,515m.
  3. Birmingham Airport is growing fastest, turnover +20.3% on its own prior year.
  4. Manchester Airports Group is the biggest employer with 7,816 people; Gatwick pays the most per head, an average staff cost of about £76,000.
  5. Heathrow has the largest balance sheet, net assets of £2,473m.

Who keeps the most of every £100 of sales?

Edinburgh Airport keeps the most: £49.72 of every £100 of turnover becomes pre-tax profit. Manchester Airports Group keeps the least, £5.95.

Financing bites hardest at Heathrow: £27.97 of every £100 goes on interest.

Every profit figure here is the one the company filed.

The chart splits each company's turnover into £100: what goes on people, on interest and on everything else, and what is left as profit.

Out of every £100 of turnover

£0£100 Edinburgh AirportDec 2025 · £359mPayroll: £16.80 of every £100£16.80Financing: £18.92 of every £100£18.92Other costs: £14.55 of every £100£14.55Profit: £49.72 of every £100Profit £49.72Luton AirportDec 2024 · £304mPayroll: £18.38 of every £100£18.38Financing: £0.72 of every £100Other costs: £38.89 of every £100£38.89Profit: £42.01 of every £100Profit £42.01GatwickDec 2025 · £1,132mPayroll: £18.54 of every £100£18.54Financing: £17.29 of every £100£17.29Other costs: £23.17 of every £100£23.17Profit: £41.00 of every £100Profit £41.00Bristol AirportDec 2024 · £204mPayroll: £10.98 of every £100Financing: £0.46 of every £100Other costs: £49.07 of every £100£49.07Profit: £39.48 of every £100Profit £39.48Birmingham AirportMar 2025 · £222mPayroll: £16.79 of every £100£16.79Financing: £4.72 of every £100Other costs: £44.26 of every £100£44.26Profit: £34.23 of every £100Profit £34.23HeathrowDec 2025 · £3,547mPayroll: £13.11 of every £100£13.11Financing: £27.97 of every £100£27.97Other costs: £27.40 of every £100£27.40Profit: £31.52 of every £100Profit £31.52Manchester AirportsGroupMar 2026 · £1,515mPayroll: £28.32 of every £100£28.32Financing: £17.60 of every £100£17.60Other costs: £48.12 of every £100£48.12Profit: £5.95 of every £100Profit £5.95
Payroll (staff costs)Financing (interest paid)Other running costsPre-tax profitLoss: the costs beyond £100

Each bar is £100 of that company's own turnover, so companies of any size compare on one scale; the figures are pounds out of each £100, not millions. Companies run from the best margin to the worst. Payroll is staff costs, financing is interest paid, other running costs are everything else, and profit is pre-tax profit, filed or estimated as marked in the table. A loss is not an extra cost: it is the part of the costs that runs past the £100 line, marked with a red bracket. Hover over any segment for its figure.

Who is the biggest, and does the comparison hold?

By turnover the order is Heathrow (£3,547m), Manchester Airports Group (£1,515m), Gatwick (£1,132m), Edinburgh Airport (£359m), Luton Airport (£304m), Birmingham Airport (£222m), Bristol Airport (£204m).

By headcount, Manchester Airports Group leads with 7,816 employees.

The comparison holds with the dates stated plainly: Heathrow to Dec 2025, Gatwick to Dec 2025, Manchester Airports Group to Mar 2026, Edinburgh Airport to Dec 2025, Birmingham Airport to Mar 2025, Bristol Airport to Dec 2024, Luton Airport to Dec 2024. The bases differ: group accounts include the businesses a company owns, single-company accounts do not.

Heathrow£3,547mManchester Airports Group£1,515mGatwick£1,132mEdinburgh Airport£359mLuton Airport£304mBirmingham Airport£222mBristol Airport£204m

Turnover on the latest filing

Who is growing fastest?

Birmingham Airport grew fastest, turnover +20.3% on its own prior year, ahead of Bristol Airport (+14.2%), Edinburgh Airport (+14.1%), Manchester Airports Group (+12.8%), Luton Airport (+2.6%), Heathrow (+1.9%), Gatwick (+0.2%).

Birmingham Airport+20.3%Bristol Airport+14.2%Edinburgh Airport+14.1%Manchester Airports Group+12.8%Luton Airport+2.6%Heathrow+1.9%Gatwick+0.2%

Turnover change on each company's own prior year

Who employs the most, who pays the most, and who brings in the most per head?

Manchester Airports Group employs the most, 7,816 people, against 7,789 at Heathrow.

Gatwick has the highest average staff cost, about £76,000 a head; Birmingham Airport the lowest, about £47,000.

Bristol Airport brings in the most turnover per employee, about £546,000, against £194,000 at Manchester Airports Group. It says as much about the business model as the workforce: a marketplace or a wholesaler needs far fewer people per pound than a restaurant or a gym.

Heathrow

7,789

employees, about £60,000 pay a head, £455,000 turnover a head, -2.2% on the year

Gatwick

2,779

employees, about £76,000 pay a head, £407,000 turnover a head, +3.7% on the year

Manchester Airports Group

7,816

employees, about £55,000 pay a head, £194,000 turnover a head, +5.9% on the year

Edinburgh Airport

958

employees, about £63,000 pay a head, £375,000 turnover a head, +8.9% on the year

Birmingham Airport

786

employees, about £47,000 pay a head, £282,000 turnover a head, +17.7% on the year

Bristol Airport

373

employees, about £60,000 pay a head, £546,000 turnover a head, +12.3% on the year

Luton Airport

908

employees, about £62,000 pay a head, £335,000 turnover a head, +18.1% on the year

Who owns each one?

Ownership as recorded on the Companies House register of people with significant control, in the bands the register uses.

Heathrow Airport Limited · 01991017

Held by Heathrow (Ah) Limited

A company recorded as a person with significant control. 45 outstanding charges on the register.

Who owns Heathrow →

Gatwick Airport Limited · 01991018

Held by Ivy Holdco Limited

A company recorded as a person with significant control. 2 outstanding charges on the register.

Who owns Gatwick →

Manchester Airports Holdings Limited · 08353309

Held by The Council Of The City Of Manchester

An individual recorded as a person with significant control.

Who owns Manchester Airports Group →

Edinburgh Airport Limited · SC096623

Held by Green Bidco Limited

A company recorded as a person with significant control. 5 outstanding charges on the register.

Who owns Edinburgh Airport →

Birmingham Airport Limited · 02078273

Held by Birmingham Airport Operations Limited

A company recorded as a person with significant control.

Who owns Birmingham Airport →

Bristol Airport Limited · 02078692

Held by South West Airports Limited

A company recorded as a person with significant control. 1 outstanding charge on the register.

Who owns Bristol Airport →

London Luton Airport Operations Limited · 03491213

Held by London Luton Airport Group Limited

A company recorded as a person with significant control. 2 outstanding charges on the register.

Who owns Luton Airport →

What does the full ledger show?

MeasureHeathrowGatwickManchester Airports GroupEdinburgh AirportBirmingham AirportBristol AirportLuton Airport
Registered nameHEATHROW AIRPORT LIMITEDGATWICK AIRPORT LIMITEDMANCHESTER AIRPORTS HOLDINGS LIMITEDEDINBURGH AIRPORT LIMITEDBIRMINGHAM AIRPORT LIMITEDBRISTOL AIRPORT LIMITEDLONDON LUTON AIRPORT OPERATIONS LIMITED
Company number019910170199101808353309SC096623020782730207869203491213
Incorporated1986198620131986198619861998
Accounts filed10 April 202628 April 202611 August 202622 June 202614 October 20253 October 20252 October 2025
Turnover, prior year£3,482m£1,130m£1,343m£315m£184m£179m£297m
Pre-tax profit, prior year£1,379m£701m£61m£195m£60m£71m£81m
Staff costs£465m£210m£429m£60m£37m£22m£56m
Payroll share of turnover13.1%18.5%28.3%16.8%16.8%11.0%18.4%
Employees, prior year7,9682,6817,383880668332769
Dividends paidn/d£300m£5m£130m£38mn/d£76m
Charges outstanding45205012

A figure the filing does not disclose is shown as n/d; a zero in a filing is treated as not disclosed. Rounding: below £0.1m in thousands, £0.1m to £2m to one decimal place, above that to the nearest million.

UK airports: common questions

Who is the biggest of Heathrow, Gatwick, Manchester Airports Group, Edinburgh Airport, Birmingham Airport, Bristol Airport or Luton Airport?

Heathrow, with turnover of £3,547m in the year to December 2025.

Which makes the most profit?

Heathrow: £1,118m pre-tax in the year to December 2025.

Which employs the most people?

Manchester Airports Group, with 7,816 employees in its latest accounts.

Heathrow or Gatwick: which is bigger?

Heathrow, with turnover of £3,547m against £1,132m at Gatwick on their latest filings. On margin, Gatwick keeps more of each £100 as pre-tax profit. The full head to head is in the VS Series. Read the VS page →

Heathrow or Manchester Airports Group: which is bigger?

Heathrow, with turnover of £3,547m against £1,515m at Manchester Airports Group on their latest filings. On margin, Heathrow keeps more of each £100 as pre-tax profit.

Heathrow or Edinburgh Airport: which is bigger?

Heathrow, with turnover of £3,547m against £359m at Edinburgh Airport on their latest filings. On margin, Edinburgh Airport keeps more of each £100 as pre-tax profit.

Heathrow or Birmingham Airport: which is bigger?

Heathrow, with turnover of £3,547m against £222m at Birmingham Airport on their latest filings. On margin, Birmingham Airport keeps more of each £100 as pre-tax profit.

Heathrow or Bristol Airport: which is bigger?

Heathrow, with turnover of £3,547m against £204m at Bristol Airport on their latest filings. On margin, Bristol Airport keeps more of each £100 as pre-tax profit.

Heathrow or Luton Airport: which is bigger?

Heathrow, with turnover of £3,547m against £304m at Luton Airport on their latest filings. On margin, Luton Airport keeps more of each £100 as pre-tax profit.

Gatwick or Manchester Airports Group: which is bigger?

Manchester Airports Group, with turnover of £1,515m against £1,132m at Gatwick on their latest filings. On margin, Gatwick keeps more of each £100 as pre-tax profit.

Gatwick or Edinburgh Airport: which is bigger?

Gatwick, with turnover of £1,132m against £359m at Edinburgh Airport on their latest filings. On margin, Edinburgh Airport keeps more of each £100 as pre-tax profit.

Gatwick or Birmingham Airport: which is bigger?

Gatwick, with turnover of £1,132m against £222m at Birmingham Airport on their latest filings. On margin, Gatwick keeps more of each £100 as pre-tax profit.

Gatwick or Bristol Airport: which is bigger?

Gatwick, with turnover of £1,132m against £204m at Bristol Airport on their latest filings. On margin, Gatwick keeps more of each £100 as pre-tax profit.

Gatwick or Luton Airport: which is bigger?

Gatwick, with turnover of £1,132m against £304m at Luton Airport on their latest filings. On margin, Luton Airport keeps more of each £100 as pre-tax profit.

Manchester Airports Group or Edinburgh Airport: which is bigger?

Manchester Airports Group, with turnover of £1,515m against £359m at Edinburgh Airport on their latest filings. On margin, Edinburgh Airport keeps more of each £100 as pre-tax profit.

Manchester Airports Group or Birmingham Airport: which is bigger?

Manchester Airports Group, with turnover of £1,515m against £222m at Birmingham Airport on their latest filings. On margin, Birmingham Airport keeps more of each £100 as pre-tax profit.

Manchester Airports Group or Bristol Airport: which is bigger?

Manchester Airports Group, with turnover of £1,515m against £204m at Bristol Airport on their latest filings. On margin, Bristol Airport keeps more of each £100 as pre-tax profit.

Manchester Airports Group or Luton Airport: which is bigger?

Manchester Airports Group, with turnover of £1,515m against £304m at Luton Airport on their latest filings. On margin, Luton Airport keeps more of each £100 as pre-tax profit.

Edinburgh Airport or Birmingham Airport: which is bigger?

Edinburgh Airport, with turnover of £359m against £222m at Birmingham Airport on their latest filings. On margin, Edinburgh Airport keeps more of each £100 as pre-tax profit.

Edinburgh Airport or Bristol Airport: which is bigger?

Edinburgh Airport, with turnover of £359m against £204m at Bristol Airport on their latest filings. On margin, Edinburgh Airport keeps more of each £100 as pre-tax profit.

Edinburgh Airport or Luton Airport: which is bigger?

Edinburgh Airport, with turnover of £359m against £304m at Luton Airport on their latest filings. On margin, Edinburgh Airport keeps more of each £100 as pre-tax profit.

Birmingham Airport or Bristol Airport: which is bigger?

Birmingham Airport, with turnover of £222m against £204m at Bristol Airport on their latest filings. On margin, Bristol Airport keeps more of each £100 as pre-tax profit.

Birmingham Airport or Luton Airport: which is bigger?

Luton Airport, with turnover of £304m against £222m at Birmingham Airport on their latest filings. On margin, Luton Airport keeps more of each £100 as pre-tax profit.

Bristol Airport or Luton Airport: which is bigger?

Luton Airport, with turnover of £304m against £204m at Bristol Airport on their latest filings. On margin, Luton Airport keeps more of each £100 as pre-tax profit.

Where do these figures come from?

Each company's latest accounts filed at Companies House. Each links to its full Spark Intel profile, which names the filing it comes from.

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