Friday 23 February 2018

Shannon Airport boss sees 2014 pay jump

Shannon Airport
Shannon Airport
Neil Pakey

Gordon Deegan

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.

Irish Independent

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