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[Article] DAA warning despite profits hike

10-04-2006 6:56pm

#1

Victor

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http://www.rte.ie/business/2006/0410/daa.html

DAA warning despite profits hike
April 10, 2006 19:39

Dublin Airport Authority's profits increased by 63% to €50m last year.

The organisation is currently responsible for airports at the capital, Cork and Shannon. It has warned that it needs to recoup more money from customers if its to deliver the planned €1.2 billion expansion of Dublin Airport.

Combined passenger numbers at the three airports rose by 12.4% to 24.5 million. Dublin numbers were up 8% to 18.5 million, while Shannon and Cork recorded increases of 35% and 21% respectively.

The authority's chairman Gary McGann said the aviation regulator needed to review passenger charges, which he described as 'unsatisfactory'. Last week an appeals panel referred aspects of the decision back to the Commission for Aviation Regulation.

Chief executive Declan Collier said a planning application for the second terminal at Dublin Airport would be lodged in the summer. He also said DAA profit levels were well below those of other airport groups.

The results also confirmed the poor financial position of the Great Southern Hotels Group, as losses rose by €1.8m to €4m. The hotels are up for sale, and further developments on the process are expected in the coming months.

But profits at Aer Rianta International almost doubled to €17.4m.

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