Ryanair in €180m Shannon investment

Low-cost carrier Ryanair is to invest €180m to create its 12th major European base at Shannon Airport, Ireland, it emerged today.

The airline will fly four jets on 14 routes from the airport from May next year to the UK and mainland Europe.

The company has guaranteed to deliver 1.3 million passengers in the first year and hopes to hit two million after five years.

Around 2,000 new jobs will be created in the Shannon area, 200 of these as direct Ryanair employees.

Michael O’Leary, Ryanair’s chief executive, heralded the vision and tenacity of the new airport authority.

“This base revolutionises the future growth of Shannon Airport,” Mr O’Leary said.

“In less than two months since their appointment the board of Shannon has won this biggest ever single investment in Irish tourism, despite intense competition from seven other low cost European airports.”

The airline plans to fly to cities such as Paris, London, Barcelona, Milan and Stockholm. It also claims the airport would become the new low fares centre of Ireland.

Ryanair's shares were at €5.05 mid-morning on the ISEQ, down 5c from its starting price.