Shannon Airport records profit in first year of independence
Leo Varadkar says airport has exceeded his expectations with results since separating from DAA
Shannon Group plc chairwoman Rose Hynes said: “The airport has paid its own way since separation. Photograph: Dara Mac Dónaill/The Irish Times
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.
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.