This article is from page 6 of the 2014-02-18 edition of The Clare People. OCR mistakes are to be expected so download the original SWF or the rendered page 6 JPG
SHANNON Airport’s return of profit and passenger growth in a little over a year since it was granted its independence from the Dublin Airport Authority has been hailed as “very impressive” by the Minister for Transport, Leo Varadakar.
On what as his first visit to the airport since it became an independent entity on December 31, 2012, Minister Varadkar told The Clare People that the upsurge in the fortunes of Clare’s international airport has “certainly validated the Government decision” to let Shannon chart its own future.
“To be brutally honest as minister, I didn’t think the airport would manage a profit in year one, I thought it would take three years for that to happen. That is one of the areas where we are ahead of schedule,” said Minister Varadkar.
“It has been a very impressive first year for Shannon Airport and the performance has certainly validated the Government’s decision to give the airport its independence. The financial position of the airport is very strong and last year was about stabilisation and making a reality of a merger and this year is about growth,” he added.
In its first year full year of independence Shannon reversed five years of successive passenger decline by recording a marginal increase in numbers on 2012 to just over 1.4m passengers.
Chief executive of the Shannon Group, Neil Pakey said the airport is projecting double digit percentage passenger growth this year based mainly on increased Ryanair services and increases services on transatlantic routes.
“During the last six months, we have been successful in securing new capacity and have to make sure the marketing is right and we are hopefully looking at double digit-plus growth,” he said.
“The airport has paid its own way since separation,” confirmed Shannon Group chairperson, Rose Hynes. “We are able to present him [Minister Varadkar] with a really positive report card on the airport’s first year as an independent entity. We have very strong momentum at Shannon, and the passenger growth, in particular, has been hugely satisfying.
Commenting on the return to profit, Minister Varadkar said it means that “the airport is a stronger position to invest and do things. If you are making losses, you are eating into your reserves”.
“Our priority in 2013 was to stabilise the position at the airport, stem the five-year decline in passenger numbers and increase connectivity,” continued Ms Hynes. “We are in passenger growth mode now and this will continue in 2014 and we will continue to make progress in the creation of an international aviation services centre in Shannon,” she added.