Shannon Airport turns €1.3 million profit

Shannon airport turns €1.3 million profit
Shannon Airport turns €1.3 million profit

IN THE latest financial report from Shannon Airport, the directors have declared themselves “satisfied” with turning a profit of €1.3 million for 2017.

There was an increase in both the number and frequency of routes from the MidWest airport, with 22 new routes and increased capacity on a further 14 announced throughout the year.

While there was a decrease in passenger traffic from Europe and the UK, this was more than compensated for by the growing number of transit passengers.

The overall number of passengers through the airport was 1,751 million, a slight increase of 0.15 per cent on the previous year.

The UK remained the airport’s biggest market with more than 727,000 passengers using Shannon. There was a 0.6 per cent increase in the US market with 399,000 passengers.

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Turnover for the year was €45.4 million, €3 million higher than the previous year while the number of employees increased from 260 to 271.

The report states that in 2017, the airport invested in a number of capital projects, including major work on the runway at a cost of €14 million, an upgrade of the duty-free facilities, lounge refurbishment and other safety and security projects.

The directors state that the airport will continue to focus on increasing profits and reducing costs but there are also plans for further investment in vital infrastructure.

Airport Director’s pay was €576,000, up €72,000 from 2016, while overall payroll costs were €18.4 million, up €17,000 on 2016.