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12/05/2009
DAA Seeking 400 Redundancies
The Dublin Airport Authority (DAA) has announced it is seeking 400 redundancies from its workforce of 3,600.
The move is intended to tackle a projected earnings shortfall of up to €70m next year. The company is also expected to seek more efficient work practices in a bid to reduce its payroll.
The announcement comes only days after the company revealed its core airport business, comprising Dublin, Cork and Shannon airports, is expected to be loss-making this year, and if present trends continue, is facing significantly higher losses next year.
DAA chief executive Declan Collier said the recession had led to a drop in passenger numbers and a fall in spending patterns that was having a significant effect on the company's business.
"The scale of this downturn is unprecedented and it is having a dramatic impact on travel patterns throughout the world," Mr Collier said. "Passenger traffic is falling at our three airports in line with similar declines at airports throughout Europe. With fewer people travelling, airlines are also cutting capacity."
Mr Collier was speaking as the DAA published its financial results for 2008, which showed a 28% decline in the Group's profits excluding exceptional items. The DAA began to feel the impact of the recession in the final quarter of last year, as passenger numbers at Dublin, Cork and Shannon fell marginally during 2008 - the first decline since the Gulf War in 1991.
Meetings are underway between the authority and its worker's unions SIPTU and IMPACT.
IMPACT Assistant General Secretary Michael Landers said he was very concerned about the large savings sought by the company, and the effect on people's jobs and earnings.
He said that he did not think pay cuts would be on the agenda, adding that IMPACT would be totally opposed to them.
(DW/JM)
The move is intended to tackle a projected earnings shortfall of up to €70m next year. The company is also expected to seek more efficient work practices in a bid to reduce its payroll.
The announcement comes only days after the company revealed its core airport business, comprising Dublin, Cork and Shannon airports, is expected to be loss-making this year, and if present trends continue, is facing significantly higher losses next year.
DAA chief executive Declan Collier said the recession had led to a drop in passenger numbers and a fall in spending patterns that was having a significant effect on the company's business.
"The scale of this downturn is unprecedented and it is having a dramatic impact on travel patterns throughout the world," Mr Collier said. "Passenger traffic is falling at our three airports in line with similar declines at airports throughout Europe. With fewer people travelling, airlines are also cutting capacity."
Mr Collier was speaking as the DAA published its financial results for 2008, which showed a 28% decline in the Group's profits excluding exceptional items. The DAA began to feel the impact of the recession in the final quarter of last year, as passenger numbers at Dublin, Cork and Shannon fell marginally during 2008 - the first decline since the Gulf War in 1991.
Meetings are underway between the authority and its worker's unions SIPTU and IMPACT.
IMPACT Assistant General Secretary Michael Landers said he was very concerned about the large savings sought by the company, and the effect on people's jobs and earnings.
He said that he did not think pay cuts would be on the agenda, adding that IMPACT would be totally opposed to them.
(DW/JM)
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