Shannon Airport boss sees 2014 pay jump
Published 04/05/2015 | 02:30
The chief executive of Shannon Group last year enjoyed a jump in his overall remuneration package, to €281,869, new figures show.
The Shannon Group's 2014 annual report discloses that Neil Pakey received the €281,869 in his first full year at the firm that operates Shannon Airport.
Mr Pakey's pay last year was comprised of a basic salary of €174,530, as well as pension contributions of €91,875 and taxable benefits of €15,464.
His basic salary was unchanged from 2013. However, a note attached to the accounts states that "pension contributions represent an accrual of pension contributions which have not yet been paid, of which €30,789 relates to 2013 from date of appointment and €61,086 relates to 2014".
Mr Pakey was appointed in June 2013 and his pension contributions for 2013 totalled just €4,914. His total pay for the near six-month period in 2013 totalled €122,881.
The annual report discloses that Mr Pakey received no bonus payment in 2014.
His remuneration compares to the €389,041 received by the CEO of the Dublin Airport Authority, Kevin Toland.
In his first full year at Shannon, Mr Pakey presided over a 17pc increase in passenger numbers to 1.64m passengers, largely on the back of new Ryanair services.