Shannon Airport set up for a strong performance in 2024

Following a year of strong growth, Shannon Airport is gearing up to reach the two million passenger mark by the end of 2024, the first time since 2009.

According to Mary Considine, CEO of The Shannon Airport Group, growth across all key air services in 2023 surpassed expectations.

“Last year saw us welcome 1.959 million passengers, a 29% increase on the previous year, and the highest level of traffic since 2009,” said Considine.

“Our commitment to enhancing connectivity was reflected in notable increases in passenger traffic across all key markets. Continental European traffic rose by 41% to 748,000; UK traffic increased by 31% to 838,000, and transatlantic passenger numbers grew by 24% to 296,000.”

The service offering from Shannon was boosted considerably in 2023 with new Ryanair services to destinations including Naples, Porto, Béziers and Liverpool, as well as additional capacity on popular destinations such as Malaga, Faro and Alicante, particularly during peak holiday times and school holidays.

Another highlight was the launch of the new Aer Lingus service to the hub airport of Paris Charles de Gaulle.

Strong financial performance

The Shannon Airport Group delivered a strong financial performance in 2023. Group turnover from continuing operations increased 12% on the 2022 figure to €67.9 million, while EBITDA for the Group increased to just over €21 million, a 27% increase on 2022.

This positive operational performance was reflected in the Group’s profit for the year from continuing operations of €28.4 million (before tax and exceptional items).

“Our strong growth is the result of the hard work of our dedicated team, the support of our customers and stakeholders, our strategic partnerships and government support,” noted Considine.

“In 2023, Shannon Airport secured operational and capital funding when it was temporarily included in the Regional Airports Programme enabling the completion of vital safety and security projects at the airport during the year.

“We made considerable progress last year and with continued government support we can achieve even more for our region and for the country as a whole.

“Ultimately, Shannon Airport’s permanent inclusion in the Regional Airports Programme will deliver economic benefits for Ireland, aligning as it does with the government’s own ambitions for ensuring balanced regional development.

“The economic benefits from the Group’s activities extend far beyond passenger numbers. An independent report undertaken by Oxford Economics and published in 2023, quantifies the positive impact of The Shannon Airport Group to the Irish and midwest economy.

“It highlights its crucial role in balanced regional development and significant contribution to Ireland’s GDP, job creation, and tax revenues.

“The report shows that The Shannon Airport Group delivers a major contribution of almost €4 billion to Ireland’s GDP, supports over 20,300 jobs across the Irish workforce, and contributes €643m in tax revenues.”

Capital investment programme

In 2023 the Group continued the roll out of its ambitious capital investment programme with the delivery of a new 60,000sqft multi-purpose industrial unit, and a 40,000sqft R&D technology unit at its Shannon Campus.

The Group also completed a number of infrastructural projects at the airport, among these, rehabilitation work on an airport taxiway.

“We are passionate about developing our Shannon Campus as a hub for technology and aerospace industries, contributing to regional job creation and economic opportunities, and much work was done during the year at Future Mobility Campus Ireland (FMCI) on the Shannon Campus to further this ambition,” reveals Ms Considine.

Sustainability

Embedding sustainability was a key focus for The Shannon Airport Group in 2023 when it delivered a number of programmes, from employee wellbeing and CSR to energy saving, carbon reduction and recycling initiatives.

In pursuit of its goal to green its operations, the Group achieved Airport Carbon Accreditation Level 2 certification and made significant strides towards further reductions in energy consumption.

Initiatives such as a partnership with ESB to implement LED lighting and the rollout of electric vehicle charging points, underscore the Group’s commitment to environmental sustainability and corporate responsibility.

Looking ahead

Commenting on the future Considine said: “As we look forward to another positive year in 2024, we remain optimistic about the opportunities that lie ahead, as our airport and commercial property activities continue to create an environment that boosts economic growth and helps the region to grow.

“We remain steadfast in our commitment to prioritising customer satisfaction, a principle that guides both our airport operations and our commercial property endeavours, and to ensuring that Shannon Airport continues to be Ireland’s airport of choice for connectivity and business.”

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