To ask the Minister for Transport the discussions he has had with the Dublin Airport Authority on its end of year 2009 results; his views on these results; and if he will make a statement on the matter. – Dan Neville. (Nominated by: Fergus O’Dowd).
For ORAL answer on Wednesday, 5th May, 2010.
Ref No: 17984/10 Lottery: 74 Proof: 80
Answered by the Minister for Transport
Noel Dempsey TD
The Annual Report and Accounts of the Dublin Airport Authority (DAA) for 2009 were published on 27 April and were lodged in the Library of the Houses of the Oireachtas the same day. I note that falling passenger numbers caused by the recession led to DAA’s Gross Profit reducing by 10% on the previous year. DAA’s Group Profit excluding exceptional items in 2009 was €38m as compared to €78m in 2008.
Despite the 2009 results, I welcome the continuing efforts by the company to achieve efficiencies in the current difficult market conditions. The success of the company’s cost recovery programme reflects well on the contribution that employees can make to DAA’s financial performance and to enhancing its ability to operate the airports more efficiently in the future.
In line with normal shareholder contacts, I will be meeting with the board and management of the company in the coming weeks to discuss strategic issues and the company’s plans for the future. In this regard I note the DAA Chairman’s statement in the 2009 Annual Report as follows:
“However, for an airport operator with a strategic vision, it is essential to recognise that the current recession, which has had a significant impact on the passenger numbers, will end. The long-term traffic pattern for air traffic shows that in the wake of every economic or geopolitical shock, there is a subsequent return to significant growth.”