AIRCRAFT maintenance firm SR Technics Ireland has been awarded a five-year contract by the charter group TUI.

Figures released by the Shannon Airport Authority today show that passenger numbers using the airport for the month of May have increased by a record 43% when compared to the last year.

RYANAIR believes it will have to pay out millions of euro as its worst fears have been confirmed in its "state aid" battle with the EU Commission, which could also impinge on the future growth of Cork, Shannon and Dublin airports.

A new European low-cost airline is to begin flights to the UK later this month.

The Gresham Group saw a 10c rise to €1.20 after the company confirmed that it had been offered €1.35 a share by an unnamed consortium.