Profits down 9% at DAA

The Dublin Airport Authority's profits declined by 9 per cent to €30 million last year, but passenger figures rose slightly, …

The Dublin Airport Authority's profits declined by 9 per cent to €30 million last year, but passenger figures rose slightly, according to its 2011 annual report.

Profits were hit by higher interest and depreciation charges over the year, the DAA said. Turnover was flat at €557 million while passenger numbers at Dublin, Cork and Shannon airports grew by a combined 1 per cent to 22.7 million.

Although domestic travel continued to decline, international traffic grew by 2 per cent.

Former chief executive Declan Collier, who left in March 2012, received total remuneration of €445,400 last year compared with €612,500 in 2010.

Mr Collier last year agreed to forgo a €77,000 bonus due to him in respect of 2010.

The report shows that passenger traffic at Dublin Airport rose by 2 per cent to 18.7 million in 2011. Cork was down 3 per cent at 2.4 million and Shannon was down 7 per cent at 1.6 million

In his chief executive's review, Mr Collier said the outlook for 2012 "remains positive".

Ciarán Hancock

Ciarán Hancock

Ciarán Hancock is Business Editor of The Irish Times