The Chairman of Aer Rianta, Noel Hanlon, has heavily criticised the Government's plan to break up the company, describing the legislation as draconian.
Speaking exclusively to RTÉ News, Mr Hanlon said he had no doubt that vested interests had been driving the agenda for up to ten years.
He said that a new business plan prepared by the company revealed that Shannon would not be viable as a standalone airport over the next ten years, without exchequer funding.
The plan is being sent to the Departments of Transport and Finance.
The Aer Rianta board meeting ended after three hours spent considering the State Airports Bill, which was published yesterday.
The board will convene a special meeting next week to give further consideration to the legislation which will result in the abolition of the board.
Sources said that the business plan does not differ significantly from previous financial assessments, none of which has supported the restructuring proposed by the Minister for Transport, Seamus Brennan.
The legislation will mean that the Aer Rianta board will be dissolved and replaced by a newly appointed Dublin Airport Authority.
The Aer Rianta board is expected to be dissolved by the end of July.
Re-declare donations, urges O'Rourke
Earlier, leader of the Seanad Senator Mary O'Rourke called on all parties involved in processing legislation relating to the break-up of Aer Rianta to re-declare any donations they received from Ryanair or Michael O'Leary.
The senator accepted that a donation of €63,000 from Mr O'Leary to the Progressive Democrats three years ago was fully above board and properly declared.
However, she said people should be reminded of such donations as the legislation is brought through.
The Ryanair chief donated €63,487 by cheque to the Progressive Democrats in 2001, the year before a €6,300 ceiling was placed on donations.
