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Aer Rianta split confirmed by Irish parliament

Aer Rianta split confirmed by Irish parliament

14-Jul-2004

The state airports group will be divided into three new airport authorities.

The government-sponsored bill to break up Irish state airports group Aer Rianta was passed today (Wednesday) by the upper house of Ireland's parliament. The move clears the way for the group to be split into three airport authorities for Dublin, Cork and Shannon. The airport boards must now prepare business plans so the split can be put into effect by April 30 2005.

The bill, which foresees each airport competing for business against the others, generated contentious debate in parliament and fierce opposition in the country in recent weeks.

Plans for the future of overseas subsidiary Aer Rianta International have not yet been finalised, although it is thought it will be overseen by the new Shannon Airport Authority.

Most of Aer Rianta's profits come from its retail and overseas businesses.

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