The Dublin Airport Authority has announced profits from normal trading activities of €109m for 2007, up 56% on the €69.5m the previous year.
The DAA said its profits for the year after exceptional items amounted to €348m. The exceptional items amounted to €239m and were mainly as a result of the profit on the disposal of the group's shareholding in Birmingham Airport.
Total passenger numbers through Dublin, Shannon and Cork airports exceeded the 30 million mark for the first time during 2007 as they rose by 8% to 30.1 million.
Passenger traffic at Dublin airport grew by 10% to 23.2m, which makes Dublin the eighth busiest airport in Europe. Shannon airport saw a 6% increase in terminal passengers to bring its total to 3.2 million.
The first full year of operations at Cork airport's new terminal building saw a 6% increase in passenger numbers to reach a record level of 3.2 million, today's figures reveal.
The Chairman of the Dublin Airport Authority, Gary McGann, said that construction of Dublin airport's new passenger terminal is on schedule for completion before the end of next year and passengers will be able to use the new facility in 24 months time.
Mr McGann also said that the DAA board had agreed to accept the recommendations of the Cassells report to resolve outstanding financial issues relating to the possible separation of Cork airport.
'The Cassells recommendations will now be incorporated into the airport business plans for evaluation by the Government and the DAA will await the final decision by Government as to whether the separation process can be effected,' he said.
Mr McGann said the acceleration of the transformation programme at Dublin airport requires the DAA to source 'substantial' debt capital to part fund the €2 billion programme.
He said the group's net borrowing is set to rise to about €300m this year and to levels in excess of €1 billion after 2010. 'In this context, the DAA must continue to increase its underlying profits and cash flows to support the required level of borrowings,' he said.
Aer Rianta International, the DAA subsidiary company, increased its profit contribution by 73% to €29.1m. This was driven mainly by strong economic growth and higher aviation traffic in two of its regional markets, Russia/Ukraine and the Middle East.
