A £3million boost will be given to Oldham Council as their share of the £60m Manchester Airport dividend.
Greater Manchester’s ten councils will each receive a portion of the pot, with Manchester Council, the largest shareholder, set to net £33m.
Oldham Council leader Jim McMahon has welcomed the windfall, which will be spent on services and schemes across the borough.
He said: “Our investment in the Manchester Airport Group and recent decision to invest in London Stansted is paying real dividends for the residents of Oldham.
“We have always accounted for some income from the investment to fund vital council services, including our recent investment in new street cleaners and environmental enforcement officers.
“It is important that any dividend above and beyond this is used to make a difference people can see.
“This year we will be allocating £1m to boost the educational chances for our young people.
“The Education and Skills Commission chaired by Baroness Estelle Morris is due to report back on its recommendations to kick start a new approach to improving education with schools and the community at the heart of learning.
“Our commitment of £1m shows we mean business and reinforces our belief that good education can transform lives.”
The windfall comes after Manchester Airports Group, announced its financial figures for the year up to March 31.
Revenues rose 10 per cent from £671.2m to £738.4m over the 12 months while underlying pre-tax profits were up 17.2 per cent from £241.9m to £283.6m.
Manchester Airports Group, which runs Manchester, Stansted, East Midlands and Bournemouth airports, credits the result to record passenger numbers and commercial success.
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