Clare Fine Gael Senator Tony Mulcahy says Ryanair's commitment to increase its business at Shannon by 18% in 2015 will help to consolidate the "remarkable growth" recorded at the County Clare airport.

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The Cathaoirleach of Limerick City and County Council has said the formal establishment of Shannon Group plc will help to reinvigorate the local economy and tourism in Limerick, as well as inspire the strong sense of entrepreneurship associated with the glory days of Shannon Airport and its surrounding freezone.

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The Cathaoirleach of Clare County Council, Cllr. John Crowe says Shannon Airport and the surrounding Free Zone have "never been better placed than now to generate new business."

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Clare Senator Tony Mulcahy has welcomed the setting up of Shannon Group plc which has assumed responsibility for the management and development of Shannon Airport and its surrounding landbank.

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The Cathaoirleach of Clare County Council today congratulated the six Clare-based companies who have claimed top awards at the Irish Aviation Industry Awards 2014.

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Clare Fine Gael Senator Tony Mulcahy says he believes Shannon Airport’s decision to expand its programme of hangar development has the potential to lead to significant growth in the aircraft maintenance, repair and overhaul (MRO) sector as well as the composites industry throughout the Mid-West Region.

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Shannon Senator Tony Mulcahy today welcomed the appointment of Neil Pakey as CEO of Shannon Airport, describing the appointment as a ‘landmark moment’ for the Mid West Region.

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Clare County Council today welcomed the publication of a report by consultants Booz and Company regarding the future management of Shannon Airport. 

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Fine Gael Senator Tony Mulcahy from Shannon said he believes that full autonomy for Shannon Airport is inevitable, after a Government-commissioned report recommended an end to the Dublin Airport Authority’s (DAA) management of the facility. 

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Aer Arann is to exit examinership on Wednesday 10th November.

This morning the High Court approved the Scheme of Arrangement proposed by the Examiner to Aer Arann Mr. Michael McAteer of Grant Thornton.

The High Court set 5pm on Wednesday next as the ‘effective date’ when Aer Arann will exit examinership. Until that time Aer Arann remains under the protection of the Court.

The approval of the scheme safeguards all 320 jobs in Aer Arann and more than 200 indirect jobs in regional airports throughout Ireland.

On September 8th the High Court appointed Mr. McAteer as Examiner to Comhfhorbairt (Gaillimh) trading as Aer Arann.

This followed the presentation to the Court of the interim examiner’s report by Mr. McAteer who had been appointed in that role on August 26th on foot of a petition by the airline.

Throughout the period of examinership Aer Arann services operated normally. There were no cancellations and there was no impact on customer travel as a result of the examinership. Bookings during the examinership period were robust.

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Aer Lingus Group plc (“Aer Lingus”), today announced traffic statistics for the month of October 2010.

Aer Lingus’ load factor in October 2010 improved by 1.8 points on October 2009 to 76.4%. Long haul load factor was 71.1%, an increase of 1.0 points on October 2009, with capacity decreasing by 8.2%. Short haul load factor was 79.0%, an increase of 2.0 points on October 2009, with capacity decreasing by 1.2%.

Aer Lingus’ total passenger numbers in October 2010 were 908,000, up 0.7% on October 2009. Short haul passengers were 831,000, a 1.2% increase on October 2009, while long haul passengers were 77,000, a 4.9% decrease on last year.

Aer Lingus significantly reduced its long haul capacity at the end of 2009 and made a smaller reduction to short haul capacity earlier this year. These changes were made to achieve a better match between capacity and market demand in the core market of Ireland, and to remove loss-making routes. As a result, total October 2010 capacity was 3.7% lower than last year.

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Aer Arann has said expects to exit examinership on Wednesday next, 10th November.

This follows the decision of Ms. Justice Mary Finlay Geoghegan in the High Court to approve in principle the Scheme of Arrangement proposed by Examiner to Aer Arann Mr. Michael McAteer of Grant Thornton.

Formal approval of the scheme is set to be granted in the High Court tomorrow morning, Friday 5th November, and Justice Finlay Geoghegan will be asked to set November 10th as the ‘effective date’ for the airline to return to normal trading.

The approval of the scheme safeguards all 320 jobs in Aer Arann and more than 200 indirect jobs in regional airports throughout Ireland.

“This is a good day for Aer Arann and we are now very well positioned for the future” said Mr.Paul Schütz, the airline’s Chief Executive, after the High Court hearing.

“We have to thank our staff, our suppliers and our loyal customers for getting us through a difficult period”, continued Mr. Schütz, “and we can now look forward with confidence to a period of stability and growth. “We have a viable business model and we will continue to build on our core market activity providing strategic air connectivity between the regions and major hubs in Ireland and the UK”

“We have seen the demand for regional air connectivity even throughout the examinership period with our own Aer Arann services performing very well and our franchise flights operated as Aer Lingus regional going from strength to strength” Mr. Schütz concluded.

A consortium comprised of Mr. Padraig O’Ceidigh and multi modal transport company Stobart Group Limited are investing €3.5million in Aer Arann with a further €1.5million being made available for working capital.

Mr. O’Ceidigh is the current owner of Aer Arann and he will remain the largest shareholder and Executive Chairman of the company.

Stobart Group Limited is a major freight, logistics and warehousing company that owns London Southend Airport which is 35 miles from Canary Wharf and 40 miles from Central London. The company is listed on the London Stock Exchange and has a market capitalisation of circa £400million Sterling.

Commenting after the Court Mr. O’Ceidigh said that “as an island national it is vital that we have a strong and competitive aviation industry to help promote economic revival”.

“Aer Arann now has a platform from which it can grow and develop”, he continued, “and this is particularly important in the regions served by Aer Arann where air connectivity is a fundamental part of the social and economic infrastructure”.

“Jobs must be created and maintained, not just in aviation but across all sectors, as we work to help the country emerge from its economic difficulties” continued Mr. O’Ceidigh, “and a vibrant regional airline is central to that aim”.

Stobart Ireland employs 200 people in Dublin and Mr. Sean Brogan, the Managing Director of Stobart Ireland expressed his satisfaction with the decision of the High Court saying that Stobart Ireland was pleased to reach an operational agreement with Aer Arann.

Mr Brogan, who will become an Aer Arann Board Director said: “This alliance creates a platform to expand the reach and capacity of two complementary companies. For Stobart, it is an important part of our development plans and further strengthens our competencies across the transport modes. For air and freight transport users, the possibilities offered by London Southend Airport, just 50-minutes from the heart of London, are considerable. We look forward to advancing our plans with Padraig and the full Aer Arann team over the coming period”, Mr Brogan concluded.

The High Court was also told that a further €2.2 million is to be invested in Aer Arann when it exits examinership by Mr. Tim Kilroe who will become a significant shareholder and a Board Director.

The investment by Mr. Tim Kilroe Jnr. renews the Kilroe family connection with Aer Arann. In 1981 his father, Mr. Tim Kilroe Snr., purchased a two-thirds shareholding in Aer Arann and he remained centrally involved in the airline until the airline was sold to Mr. O’Ceidigh in 1994.

Mr. Kilroe said he is “delighted to be involved in Aer Arann again at such an exciting time when the airline has excellent potential to grow.”

“The involvement of Stobart Group, the opportunity to develop services to London Southend and the franchise agreement with Aer Lingus are all critical elements that will enhance the airline’s future prospects”, concluded Mr. Kilroe.

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Ryanair has announced a 17% increase in half year Profit to €452m.

Revenues rose 23% to €2.2bln as traffic grew by 10% to 40.1m passengers and average fares rose by 12%. Unit costs rose by 13% (excluding fuel they rose by 4%) as sector length increased by 12%.

Announcing these results Ryanair’s CEO, Michael O’Leary, said: “A 17% increase in half year Net Profit to €452m is testimony to the robustness of Ryanair’s lowest cost\lowest fare model which continues to deliver traffic and profit growth even during a deep recession. We continue to gain market share across Europe from the big three high fare flag carrier groups led by Air France, BA and Lufthansa. We expect this trend to continue as consumers switch to Ryanair for the lowest fares, the most on time flights, and the best customer service.

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