2019 Profits Up at Shannon Group
Shannon Group, operator of Shannon Airport, announced a 43% increase in profit after tax to €21.6m for 2019. Consolidated turnover for the year was €79.1 million. After six successive years of growth at the Airport, passenger numbers were down by 8% to 1.71 million in during the year which was blamed on the global grounding of the Boeing 737 MAX. Three new routes were announced to Paris Charles de Gaulle, Vienna and Barcelona although these are now unlikely to start due to the Covid-19 pandemic. The Shannon Group contains three other companies, Shannon Commercial Properties, Shannon Heritage and Shannon International Aviation Services Centre.
Covid-19 has had significant effect on Shannon Airport and is no longer operating on a 24 hour basis for the first time in living memory. Operations are from 0600 to 2200 daily. The crisis has had a significant negative impact on air traffic volume and tourism as governments have imposed travel restrictions and airlines have grounded fleets. This is resulting in a significant reduction in revenue for the Group and there is uncertainty around air traffic volumes and tourism in the future. There may be other future impacts that cannot be foreseen at this point in time and therefore cannot be considered by the directors. The full report can be read HERE.
About the Author
Mark Dwyer Mark is an airline pilot flying the Boeing 737 for a major European airline. In addition he is also a Type Rating Instructor, Type Rating Examiner and Base Training Captain on the B737. Outside of commercial flying Mark enjoys flying light aircraft from the smallest 3 Axis microlights up to heavier singles. He is also an instructor and EASA Examiner on single engines and a UK CAA Examiner. He flies the Chipmunk for the Irish Historic Flight Foundation (IHFF). Mark became the Chairman of the National Microlight Association of Ireland (NMAI) in 2013 and has overseen a massive growth in the organisation. In this role he has worked at local and national levels. In 2015, Mark won ‘Upcoming Aviation Professional Award’ at the Aviation Industry Awards sponsored by the IAA. Mark launched this website back in 2002 while always managing the website, he has also been Editor and Deputy Editor of FlyingInIreland Magazine from 2005 to 2015.
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