Shannon Airport Group CEO buoyant about future as 2024 results reveal 7% growth
- Shannon is Ireland’s fastest-growing Airport since 2022
- Over €30m investment programme underway across the Group
- Major new US client secured for the Shannon Airport Business Park
Following a year where Shannon Airport exceeded its passenger growth target to reach 2.1 million passengers, Mary Considine, CEO of The Shannon Airport Group expressed strong confidence in the Group’s future and confirmed that an ambitious investment programme of over €30 million is underway across The Shannon Airport Group.
Exceeding Passenger Growth Target
“We exceeded our 2024 passenger growth target at Shannon Airport, welcoming over 2.1 million passengers, the highest number of passengers in fifteen years and a 7% increase on 2023. This strong growth milestone reflects the airport’s pivotal role in Ireland’s aviation sector, and success in 2024 was driven by a strong performance across our 33 routes to 11 countries with the addition of new routes and increased capacity,” said Ms Considine who was commenting following the publication on April 30th of The Shannon Airport Group’s 2024 annual report.
Ms Considine said: “Over 200,000 additional seats on European, UK and US destinations in 2024 enhanced connectivity and boosted tourism and business travel. Shannon Airport enjoyed increases in passenger traffic across all key markets. Continental European traffic rose by 16% to 870,000; transatlantic passenger numbers grew by 12% to 332,000; and UK traffic increased marginally to 839,000.
“Shannon Airport’s passenger growth soared by 44% from 2022 to 2024, making it Ireland’s fastest-growing airport. We will continue to work on growing strategic connectivity for Ireland.”
2024 saw a strong transatlantic performance at Shannon Airport. The airport now offers five transatlantic routes with Aer Lingus, Delta, and United, solidifying its position as an alternative transatlantic access point.
Ryanair expanded its capacity at Shannon in 2024, celebrating 20 million passengers through the airport since 1987, and announcing a new service to Madeira together with increased frequencies on eight routes, boosting capacity by 17% for summer 2025.
In 2024, Shannon Airport maintained its status as Ireland’s favourite airport, ranking first in the travel category for customer experience in the Ireland Customer Experience Insights (CXi) Report. It also won the Best CX Team award in the transport category at the national Customer Experience Awards for the second consecutive year. The airport also received accolades including the RED C Brand Reaction Index (BRII) Ireland 2024, the Aviation Customer Focus Achievement award, and the Placemaking Initiative of the Year award for its initiatives across the Shannon Airport Business Park.
A Solid Financial Performance
The Group recorded a solid financial performance in 2024, with turnover from continuing operations increasing by 7.6% on the 2023 figure to €73.1 million, while the Group reported an EBITDA of €18.3 million. This strong operational performance is reflected in the Group’s annual profit from continuing operations of €25.7 million, before tax and exceptional items.
Commenting Ms Considine said: “This level of profitability, in conjunction with a growing balance sheet of €309 million at the end of 2024 is very encouraging and creates a solid foundation for our future plans. With this performance we are on a firm financial footing to embark on the next phase of our development strategy.”
Strong Investment Strategy
The Group invested over €8 million in 2024, with a further investment of over €30 million in infrastructure planned to support the achievement of its ambitious sustainability goals, enhance customer experience and drive regional economic growth.
Key projects underway include a €3 million, 1.2-megawatt solar PV farm, the first of its kind on an airfield in Ireland, which will provide up to 20% of the airport’s electricity requirements once completed this year. Also planned is a €2.5 million thermal wrap facelift of the terminal building which, combined with other key projects, will assist the Group in achieving its goal of a 51% reduction in greenhouse gas emissions by 2030 and reaching Net Zero by 2050.
Vital customer facing infrastructure will also see substantial investment including a significant upgrade to the immigration and baggage hall areas; the extension of Boarding Gates 1-5, optimising passenger areas; and 1,000 new carpark spaces.
Other investments are planned for the Shannon Airport Business Park, home to over 300 companies employing more than 10,000 people, which continued to thrive as a hub for FDI and indigenous businesses in 2024. Work will commence there on two new multi-purpose manufacturing units totalling 103,000 sq ft, and in addition, a new 40,000 sq ft research and development facility, both of which will be available to lease in 2026.
“We were delighted to recently welcome a new client to the Shannon Airport Business Park. Frontier Scientific Solutions, a major US-based logistics company has taken up residence in Block S, our newly built multi-purpose facility. This temperature-controlled storage and pharmaceutical distribution company from North Carolina joins our growing family of companies at the Business Park,” said Ms Considine.
A Decade of Generating Positive Economic Impact
“During 2024 we celebrated the tenth anniversary of the establishment of the Group and reflected on a decade of significant economic contributions. Among these is an investment of over €180 million across the airport and commercial property business as part of the Group’s development strategy. The Shannon Airport Group generates almost €4 billion annually for the national economy and supports over 20,000 jobs. Our impact extends beyond aviation, driving tourism, trade, and economic growth across the region. These results reaffirm our commitment to being a catalyst for positive change and development,” said Ms Considine.
Priming for Future Growth
“While there is significant global volatility and uncertainty during 2025 and beyond, we are committed to driving innovation and resilience to navigate these challenges together.
“As a Group we are pleased with our achievements in 2024, but with the right policies and support we believe we can achieve much more. This is why we are pleased the National Programme for Government includes a commitment to a review of National Aviation Policy to maximise the use of regional airports.
“We call on Government to support us to continue to grow by expanding the scope for the 2026-2030 Regional Airports Programme. Optimising the State’s airport network is crucial to achieve the vision and ambitions of Project Ireland 2040 and the National Planning Framework, ensuring a balanced distribution of economic growth in Ireland,” said Ms Considine.
“The year ahead promises to be positive and full of opportunities as we remain dedicated to enhancing the passenger experience, expanding our route network, and continuing our investments in airport transformation and sustainability initiatives. Customer care will continue to be at the core of everything we do across the Group in 2025. Our strong growth is the result of the hard work of our dedicated team, the support of our customers and stakeholders, our strategic partnerships and government support and we sincerely thank our passengers, partners, and our people for their unwavering support and dedication,” Ms Considine concluded.
ENDS
