They are relying on growth from Ryanair,J2 and easyjet IMHO.
I do hope not. They've got Ryanair thoroughly boxed in with Cornish having vetoed spending on T3 expansion early in his 12-13 year tenure, and nothing added there since. EasyJet may add a 22nd aircraft for S24 (up from 21) ... fingers crossed. Jet2 split-terminal ops till end of S24 and setting up a competing base down the road. TUI in the deep-freeze. I actually think that the business driven by these carriers really is very valuable to MAN, and isn't always afforded the respect it deserves by those outside the business. But I fear for meaningful expansion from this sector in the medium term ... MAG
MUST do something about T3 capacity for starters (ideally feed Pier B from it IMHO), and then bring new T2 capacity online ASAP. It is unfortunate that the ACL report for S24 has been delayed. The percentage comparisons for these four carriers S23 v S24 will make for illuminating reading. Fingers tightly crossed they surprise to the upside, but I wouldn't place a bet on that.
I would place the need for an apron extension on the airport campus and expansion of T3 as higher priorities than further work on T2 once the current phase is completed. The former should be constructed to provide resilience for the next decade of growth; the latter is required right now!