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Ireland DAA’s operating and net profits tumble as it faces ‘a very difficult financial situation’

Ireland’s Dublin Airport Authority, operator of the Dublin, Shannon and Cork airports, saw its operating profit, EBITDA and, especially, net profit all slashed in the financial year ended 31-Dec-08. After years of solid and sometimes spectacular growth that made it the fourth busiest in the British Isles and pushing London Stansted hard for third spot, Dublin Airport’s passenger numbers were stagnant and DAA predicts that if present trends continue it will be loss making for at least the next two years. The Celtic Tiger has lost its roar and it will be a long time before it gets its voice back.

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