Aer Rianta reports €20.2m profit in 2003

Irish airports operator Aer Rianta reported a €20.2m profit in 2003 amid reports that the proposed break-up of the company may be postponed.

Transport Minister Seamus Brennan has said the issue was to be debated in the Oireachtas as legislation needs to be passed there before the break-up can proceed.

However, this has been postponed for a week after Brennan received a letter from the general secretary of the Irish Congress of Trade Unions, David Begg, outlining workers concerns.

Meanwhile, Aer Rianta reported passenger numbers up 5.8% across Dublin, Cork and Shannon airports, to just under 20.5 million.

The Government is set to benefit to the tune of €6.1m in the dividend it receives from the State-owned operator, bringing the combined dividend payment to the Exchequer over the past two years to €13.3m.

Group net debt increased marginally to €377.4m during 2003.

Aer Rianta's Great Southern Hotels chain reported profits of €2.85m, down from €3.9m the previous year, in what was termed "difficult" trading conditions.

Figures presented today were the last under present Aer Rianta chairman, Noel Hanlon, who is to retire during the summer.

The remainder of the board at Dublin Airport will remain until the necessary legislation has been passed.