Manchester Airport Holdings Limited, trading as MAG (originally Manchester Airports Group) is a holding company which is owned by the ten metropolitan borough councils of Greater Manchester, in North West England, and Australian investment fund IFM Investors. Founded in 2001 MAG is the largest UK-owned airport operator, following the purchase of BAA by Ferrovial in 2006. MAG owns three British airports Manchester Airport, East Midlands Airport, and Stansted Airport. In the 2017/18 financial year, 58.9 million passengers used MAG airports.