Ryanair Criticises Govt Failure To Sell Shannon Airport
09-May-2012 CHANGE OF CONTROL FROM DAA TO SFADCO IS LIKE MOVING DECK-CHAIRS ON THE TITANIC - THE SHIP STILL SANK
Ryanair, Ireland's largest airline, today (9 May) criticised the Govt's failure to sell Shannon Airport to the private sector, who would invest in and grow the airport for the benefit of the mid-west region. Transferring Shannon from one failed semi-state, the DAA, to another, SFADCO, means that there will be no real change or reform nor radical cost reduction or efficiencies, but rather lots of continuing political interference and bureaucratic mismanagement.
Shannon's traffic has fallen from over 3.6m in 2007 to 1.6m in 2012 and Ryanair does not believe that a semi-state company like SFADCO will make Shannon either cost competitive or efficient.
Ryanair's Stephen McNamara said:
"When the BAA sold Edinburgh Airport (9m ppa) last month for almost €1 billion and when the trend across Europe is for Govts to sell airports to private sector investors, who can run and grow them more efficiently, today's transfer of Shannon from one semi-state quango to another is a missed opportunity to introduce real change and reform as well as real competition between the Govt-owned airports.
"The Govt's failure to sell Shannon Airport is also a missed opportunity to generate real proceeds with which to pay down either the DAA's or the Irish Govt's huge debts."