Shannon, Ireland, 2014-7-30 — /Travel PR News/ — The Shannon Group Bill was signed into law by President Michael D. Higgins yesterday, 27th July 2014.
The new legislation now paves the way for the formal establishment of Shannon Group, which will combine Shannon Airport with the property ownership and management activities of Shannon Commercial Enterprises Limited, Shannon Heritage and the International Aviation Services Centre (IASC), which builds on the aviation related activities already located at the Airport and in the Shannon Free Zone area.
Welcoming the announcement Rose Hynes, chairman Shannon Airport said: “The separation of Shannon Airport in January of last year and the enactment of the Shannon Group legislation are critical steps in a process that will now allow us to drive forward with our ambitious plans for Shannon Group. The establishment of Shannon Group will now take place in the coming weeks.”
Commenting on the announcement Shannon Group CEO Neil Pakey: “The signing into law of the Bill marks an exciting new beginning for the strategic business units within the Shannon Group and we look forward to the challenges ahead .”
About Shannon Group plc
Shannon Group plc is a new commercial state company comprising four strategic business units focused on delivering economic benefits for the west of Ireland and the wider national economy. It brings together Shannon Airport, Shannon Heritage, the International Aviation Services Centre (IASC) and Shannon Commercial Properties (formally Shannon Development).
Shannon Airport succeeded in reversing a five year decline in passenger numbers in its first year as an independent entity. Passenger figures for 2013 confirmed positive growth for the first time since 2009. The outlook for 2014 is positive with double digit growth in passenger numbers expected.
Shannon Heritage is one of the largest operators of heritage products in Europe. It manages a growing portfolio of seven day visitor experiences and four evening entertainments in Clare, Limerick, Galway and Dublin.
The International Aviation Services Centre (IASC) is dedicated to building on the globally recognised and internationally competitive aviation industry cluster at Shannon.
Shannon Commercial Properties is focused on developing the company’s property portfolio.