Airport operator daa has reported solid financial performances for both Dublin and Cork Airports for the first half of 2024, but has warned of challenges ahead next year due to fewer slots and passengers because of developments surrounding the controversial passenger limit at Dublin Airport.
For the first half of this year, daa has reported a turnover of €504.3m – representing a 10% increase on the €458.8m turnover generated in the first half of last year. The revenue growth was driven by a 15% jump in domestic revenue, which totalled €389.3m.
Post-tax profit for the first half of the year jumped significantly, by 44%, to €82.1m.
Combined passenger numbers – across both daa-operated airports – grew 5%, year-on-year, in the first half to 17.9 million people.
Kenny Jacobs, daa chief executive, said: “I am pleased with the strong financial and operational performance in the first half of 2024 driven by cost management and efficiency. This is a credit to the efforts of our employees across the business at home and overseas. The continued growth in passenger numbers and revenue reflects the robust demand from both passengers and airlines alike to grow their business at our airports.”
But, Mr Jacobs warned that the passenger cap controversy surrounding Dublin Airport will result in some operational challenges for daa next year.
He added: “However, there are strong headwinds ahead as a result of ongoing planning issues and the 32 million passenger cap at Dublin Airport which will be reflected in our performance for the second half of this year and into 2025.”
“While we continue to encourage and incentivise our airline partners to grow at Cork, our ability to grow to match demand for international travel by a growing Irish population is currently curtailed at Dublin given the 2007 passenger cap. Less seats this winter and next summer, is going to result in higher air fares and less choice for the travelling public unfortunately until the cap gets resolved by planning permission being granted.”
“We hope planning can move faster, we submitted our 40 million passenger application almost one year ago and we expect it could take a further two years before this is approved. We are also working on a comprehensive ‘no build’ operational application to remove the cap in the coming months that we hope can move through the planning process faster.”
