Shannon Group gets official go-ahead

The Government has formally approved the creation of the new state company that will oversee the workings of Shannon Airport.

The aptly-named Shannon Group will act as an umbrella body for the airport, which became independent at the turn of the year, and local enterprise body Shannon Development.

Transport and Tourism Minister Leo Varadkar yesterday called the move “another significant milestone in the restructuring of the State’s assets in Shannon”, and one that “will serve to drive the economy of the Shannon-Limerick area and the wider national economy. By restructuring the enterprise agencies in the Shannon Free Zone, we can ensure that indigenous and multinational industry, already in the zone or considering locating there, have access to a comprehensive range of supports.

“By merging a strong independent Shannon Airport with the extensive property holdings, experience and expertise of Shannon Development, we will create a strong new state company which will work with the IDA and Enterprise Ireland on developing an international aviation service centre in the region,” Jobs and Enterprise Minister Richard Bruton added.

The drafting of the Shannon Aviation Services and Miscellaneous Provisions Bill 2013 also provides for the official renaming of the Dublin Airport Authority to the already widely-used DAA acronym. The publishing of the bill is targeted for the autumn session of the Oireachtas, with the act set to be passed by the end of the year.

The restructuring of Shannon Development (set to be renamed Shannon Commercial Enterprises) ahead of its merger with the Shannon Airport Authority within the new group is nearing completion and the Government has said Shannon Airport’s first passenger increase in five years, an 8% jump seen in June, augurs well for the newly independent entity.