The Dublin Airport Authority (DAA) could be in line for a significant windfall following reports that Düsseldorf airport may list on the German stock exchange.

The DAA has a 20 per cent stake in the airport, one of Germany's largest.

According to a report in the Financial Times' German edition, the company could be preparing itself for an initial public offering. Airport chief executive Rainer Schwarz is quoted as saying that he intends to build the company up to a point where flotation might be an option.

The city of Düsseldorf owns 50 per cent of the airport, while German construction group Hochtief owns 20 per cent. The remainder of the shares are owned by a group of smaller investors.

The DAA, which replaced Aer Rianta last year, has significant experience in the German aviation market.

It also holds a 20 per cent stake in Hamburg airport.

Ironically, Düsseldorf has not been performing well for DAA/Aer Rianta in recent times, although it made a strong recovery in 2004.

The shares in Hamburg and Düsseldorf are held by Aer Rianta International, which manages airport retail operations in north America, eastern Europe and the Middle East.

The DAA also holds a 24 per cent interest in Birmingham International Airport.

Aer Rianta International increased its profit contribution to DAA in 2004 to €9.6 million from €5.1 million the pervious year.

The Aer Rianta International shareholding in Düsseldorf is held through a company called Flughafen Düsseldorf.

Nobody was available last night from the DAA to discuss the potential implications of the airport company taking a public listing.