The government has given the go-ahead for the next stage of the process to merge Shannon Airport with a re-structured Shannon Development.
New laws are to be drawn up allowing for the creation of a new body which will manage the airport and Shannon Development, a move which the Transport Minister has described as a ‘significant milestone’.
The Shannon Aviation Services and Miscellaneous Provisions Bill 2013 will see the formation of a new state company, Shannon Group plc.
This will take over a re-structured Shannon Development and the Shannon Airport Authority, retain control of the Airport and it’s surrounding landbank, and drive the development of an international aviation services centre which the government hopes will create over 3,000 jobs.
Recently appointed Airport CEO Neil Pakey will be it’s chief executive, while Shannon Development will keep around 25 staff and be re-named as Shannon Commercial Enterprises Limited.
Cabinet approved the heads of the bill at their meeting yesterday. It will now be drafted over the coming months, and will be discussed by the Oireachtas Transport Committee and both houses of parliament.
The government hopes it will be law by the end of the year.
