Media Centre

Shannon Airport Cost Restructuring Agreement Welcomed by DAA

The Shannon Airport cost restructuring agreement, reached early this morning with the trade unions, has been welcomed by management at Shannon Airport and by the Dublin Airport Authority (DAA).

“On the basis that this agreement delivers the €10m in annual cost savings required, and that it has the full support of the Labour Relations Commission (LRC), the trade unions and management, we welcome it as a significant first step towards ensuring Shannon Airport’s financial viability and safeguarding its role as a key economic generator for the West of Ireland,” said Pat Shanahan, Executive Chairman, Shannon Airport.

“Shannon Airport faces many business challenges including the advent of Open Skies and growing competition from other airports. But if this agreement is approved by staff, we can establish the cost base and flexibility that will enable Shannon to compete successfully and secure a vibrant future for the airport, its customers and staff,” he added.

The agreement reached this morning, follows intensive negotiations over the past week, facilitated by the LRC. The agreement, which has the support of a generous financial offer from the DAA for staff that will leave Shannon and those that will stay, will now be put to a ballot of employees at Shannon. 

March 21, 2007