Airport Management Welcome Agreement on Restructuring Deal

The management of Shannon Airport and the Dublin Airport Authority have  today welcomed the acceptance by staff of a restructuring programme, which is based fully on the achievement of €10m cost savings annually for the airport.

Executive Chairman Pat Shanahan said “ We welcome the acceptance of this programme by staff as the next step to ensuring Shannon Airport has a viable platform from which to grow. I would like to acknowledge the commitment shown by staff representatives in securing Shannon Airport’s future during the recent discussions”.

“The timely and effective implementation of this restructuring programme is vital if Shannon Airport is to successfully meet the challenges of Open Skies and of  intense competition from other airports. Shannon Airport and its staff have a long and proud tradition of both pioneering and adapting to change in the aviation industry. I am confident that the foundations are now being put in place to underpin Shannon’s status as the major transport gateway to the West of Ireland which will have the potential to develop as a financially and operationally independent airport, driving economic growth throughout the region” he added.

Management confirmed that they would now begin the process of implementing the restructuring programme. Critical to its success is the achievement of 200 voluntary redundancies from the company.

ENDS

5th April 2007