DAA announces year end profit down 51% for 2009, first passengers for T2 in October.
The Dublin Airport Authority (DAA) announced today that the first passengers are expected to use Dublin Airport’s new Terminal Two in October as part of the testing process leading up to full operations.
DAA chief executive Declan Collier said “The main construction phase of T2 is now almost complete and we will shortly begin a detailed series of operational trials to test all of the systems and processes in the new terminal,” he added.
Mr. Collier was speaking as the DAA published its financial results for 2009, which showed that excluding exceptional items, Group profits fell by 51% last year to €38 million, as the full effects of the recession were felt on its business both in Ireland and overseas.
Turnover declined by 13% during the year to €547 million, as combined passenger numbers at Dublin, Cork and Shannon airports fell by 13% to 26.1 million.
Late last year, DAA staff agreed a restructuring plan which will generate €38 million in annual payroll savings and other efficiencies. Under the agreement, about 300 staff have left the company as part of a voluntary severance scheme and a further 100 contract positions have not been renewed.
Mr Collier said the recent closure of Irish and European air space due to volcanic ash had led to the cancellation of about 3,200 flights at Dublin, Cork and Shannon airports as up to 400,000 incoming and outgoing passengers were affected. The disruption cost the company upwards of €7-€8 million.
The DAA has waived aircraft parking charges for its airline customers during the week of the airspace closures and is also refunding the car parking charges at Dublin, Cork and Shannon airports for any customers who had an additional unplanned stay due to the volcanic ash disruption.
The DAA’s annual results showed that earnings before interest, taxation, depreciation and amortisation declined by 19% to €126 million last year. Gross debt was €1.25 billion at year-end to allow for investment in infrastructure at Dublin Airport.
Taking into account a number of exceptional items, the Group recorded an after tax loss of €13 million for the year, compared to a profit of €47 million in 2008.
Passenger volumes at the three airports under the management of the DAA ended 2009 at :
Dublin Airport 20.5 million, down 13%.
Cork Airport 2.8 million, down 15%
Shannon Airport 2.8 million, down 12%
Terminal traffic at Shannon Airport - which is the number of passengers who either began or ended their journey at the airport - declined by 14% to 2.4 million during the year.
The DAA’s overseas airport investments and airport retailing businesses, managed by Aer Rianta International (ARI), had a challenging year as profits before exceptional items declined by 47% to €13.4 million.