In 1999, Manchester Airport bought Humberside Airport marking its arrival as an airport management company. In 2000, National Express put both East Midlands and Bournemouth Airport up for sale - both of which were sold for £241 million to MAG in 2001. Consequently, the councils of Greater Manchester saw it fit to create a dedicated holding company to manage this portfolio at arm's length. Manchester Airports Group was formed in 2001 to own and operate Manchester Airport and the other smaller acquisitions.