DAA deal puts Shannon value at under €35m

Donal O’Donovan – 10 May 2013

SHANNON Airport is valued at €35m under the deal that frees the airport from the Dublin Airport Authority (DAA), according to documents seen by the Irish Independent.

The DAA will take on €14m of Shannon debt under the deal, according to the documents.

Shannon Airport has been separated from the DAA following a government decision made at the end of last year, but it will remain in state hands.

Particulars of the sale contract were filed with the Companies Office earlier this week. They show that the DAA transferred ownership and control of Shannon Airport to local management on December 31 last year.

The purchase price is listed as €35m but the deal was sealed by payment of a single €1 share to Public Expenditure and Reform Minister Brendan Howlin.

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