Shannon Airport records profit in first year of independence

Minister for Transport Leo Varadkar said yesterday that the independent Shannon Airport has exceeded his expectations to record a profit in its first year of operation.

The airport was formally separated from the Dublin Airport Authority (DAA) in January last year and recorded a marginal increase in passenger numbers to 1.4 million in its first 12 months as an independent entity, following five years of decline.

Shannon Group plc chairwoman Rose Hynes said: "The airport has paid its own way since separation. Absolutely, no doubt about it."

Mr Varadkar admitted he did not think the airport would be profitable in year one. “I thought it would take three years for that to happen,” he said.

Meanwhile, all sides in the dispute that threatens to close the Republic’s three main airports remained hopeful a proposal that could avert a strike would still emerge by the weekend.

Siptu members in Cork Dublin and Shannon Airports and Aer Lingus voted for industrial action this week as the row over the €780 million deficit in their pension pot dragged on.

There were hopes that the trustees of the Irish Airlines Superannuation Scheme would publish a proposal likely to point the way out of the deadlock yesterday, but this did not materialise. However, sources suggested there was still a possibility it could happen by the weekend.