Tuesday 21 November 2017

Shannon Group finance boss quits 'for new opportunities'

Shannon Airport
Shannon Airport
David McGarry, Shannon Group
John Mulligan

John Mulligan

The chief financial officer of Shannon Group, David McGarry, has left the semi-state company.

He had been with the business for three years, having joined from waste management group Indaver.

Mr McGarry is also a non-executive director of Bus Éireann, having been appointed to that role in 2015. He is chairman of the bus company's audit and risk committee.

Mr McGarry is understood to have left his Shannon Group role before Christmas.

A spokesperson for the company confirmed that he had stepped down "to pursue other career opportunities".

She said that Mary Considine, Shannon Group's company secretary, had taken over the responsibility for the finance function within the group.

Mr McGarry's departure comes just seven months after the company - whose activities include the operation of Shannon Airport and Shannon Heritage - appointed Matthew Thomas as chief executive.

Ms Considine was the acting chief executive until Mr Thomas' appointment.

Mr Thomas formally took on the role in June. He succeeded Neil Pakey, and joined from Canada's Vantage Airport Group, where he was chief commercial officer. Mr Pakey had also joined Shannon from Vantage.

Mr McGarry's departure comes as Shannon Airport faces challenges and opportunities.

Low-cost carrier Norwegian Air International (NAI) plans to launch flights between Cork and Boston this summer, in a move that could divert passenger traffic away from Shannon.

But NAI has also indicated that it is interested in starting flights from Shannon to the United States.

Shannon has also secured seasonal summer services from Lufthansa and SAS, but Ryanair is cutting some services from the airport this year.

Shannon Airport handled 1.71 million passengers in 2015, compared to 1.64 million in 2014.

The Shannon Group generated turnover of €65.6m in 2015 and a pre-exceptional operating profit of slightly under €8m that year. Shannon Airport's revenue was flat at €42.6m in 2015. It made a €2.2m pre-exceptional profit that year.

Irish Independent

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