DAA to pay €66m dividend to State as group welcomes record passenger numbers

Record passenger numbers in year that was overshadowed by a boardroom dispute and legal challenges

Cork Airport last year recorded its busiest 12 months since opening in 1961. Picture: Larry Cummins

A record 39.9 million passengers travelled through Cork and Dublin airports last year as the operator DAA reported a turnover of €1.18bn.

Releasing its annual report, DAA reported earnings before tax and interest of €401m and profit after tax of €230m. The board of the State-owned company has recommended a dividend of €66m to the State in respect of the 2025 financial year, bringing total dividends paid since 2024 to €165m.

The results supported €272m of capital investment during the year, including the installation of new C3 scanners at terminals 1 and 2 at Dublin Airport, the start of construction on a new mezzanine floor for a new screening area and lounge at Cork and advancing sustainability across the group’s Irish and international operations.

Cork Airport accommodated a record 3.5 million passengers in 2025, a 13% increase on the previous year, its busiest year since opening in 1961. It also progressed major terminal, security and baggage investments under its €200m multi-year capital development programme. 

Dublin Airport welcomed 36.4 million passengers, a 5% increase on the previous year.

DAA's international arm, which operates airport terminals abroad, saw record passenger volumes at King Abdulaziz International Airport in Jeddah and the successful opening and growth of Red Sea International Airport. The retail arm Aer Rianta International (ARI) recorded revenue growth across its global portfolio.

The strong financial results and passenger numbers were overshadowed by the bitter boardroom dispute at DAA, which saw former CEO Kenny Jacobs depart the role in February. Jacobs initiated the action against DAA after he was suspended by the company in December, pending an investigation into allegations made against him. 

In the action, he had sought his return to work and declarations the DAA board had prejudged his removal from office. Mr Jacobs stepped down voluntarily after the case was settled.

Commenting on the results, outgoing DAA chair Basil Geoghegan said they highlight DAA’s crucial role in sustaining economic growth, tourism, trade and connectivity. 

"We successfully translated strong passenger growth at our airports into a solid financial performance, helping to fund investment in our ambitious plans for the future and return a significant dividend to the State," he said.

"A continuing issue is the challenge posed by operating in multiple, and at times, conflicting regulatory regimes, which impacts our ability to meet the objectives we are set by our shareholder and provide for Ireland’s growing connectivity needs. 

"The most immediate short-term constraint, the 32 million annual passenger cap, has been recognised by government and we welcome its commitment to address the cap by introducing legislation in 2026," he said.