Tag Archives: business

SOURCES on Wednesday evening indicated that employees aged in their mid 50s and older at Shannon Airport will be offered a voluntary redundancy package. While Shannon’s traffic has increased since it separated from the Dublin Airport Authority at the start of 2013, it is still less than 50% of what it was at its peak. As far back as June 2015, a voluntary redundancy scheme for the airport was first proposed, at a time when Neil Pakey was still its CEO. Then it was said that such a move would be required to address Shannon’s cost base, with staffing levels still relatively similiar to 2006 and 2007, when Shannon had more than 3.6 million passengers per annum. To put it in perspective, there were 1.7 million passengers in 2016. It appears that the savings achieved through redundancies would be used in part to fund redevelopment at the airport. At the moment some works are underway in the terminal building and there are …

Tourism Ireland, together with 13 Irish tourism companies, including Dromoland Castle, is preparing to undertake a week-long sales mission to Australia and New Zealand next month – to grow tourism from both markets. The sales mission, which takes place from November 14-21, will target some 300 influential travel agents, tour operators, airlines and travel journalists in the key cities of Auckland, Brisbane, Sydney and Melbourne. The objective is to engage with travel professionals in the four cities who are currently selling the island of Ireland, or who have strong potential to sell the destination – and to encourage them to extend their Ireland offering, or to include Ireland for the first time, in their future brochures and programmes. Business links between the tourism companies from Ireland and the influential travel professionals in these markets will be strengthened during the sales mission. The island of Ireland has seen very good growth in visitors from Australia and New Zealand over the past …

SHANNON Group made a profit of just under €7.3 million last year. The Group encompasses Shannon Airport, Shannon Commercial Properties, Shannon Heritage and Shannon IASC. Its accounts show that it had total fixed and current assets of €147.5 million and total equity of €120.2 million. There were liabilities of €27.3 million. The accounts show that aeronautical and commercial activities were responsible for €37.76 million in revenue, commercial property rental, management and development for €14.22 million and tourism activities for €13.57 million. Shannon Group saw depreciation of just under €4 million in 2015. Wages and salaries for the year came to €28 million while there were social welfare costs of €2.46 million. On average Shannon Group employed 481 staff during the year. Four hundred and two were in operations and administration, 48 in commercial activities and 31 in property. Remuneration for the then Shannon Group Chief Executive Officer Neil Pakey came to €255,676 in 2015. Commenting on the Shannon Group results, …

Local Enterprise office Clare held the first of a series of women in business networking events on Tuesday. Special guest Maria Kelly, spoke to a large group of focused and successful business women.The network, which has grown in numbers over the last number of years, is testimony to the fact that female specific supports have been successful in increasing the number of female entreprenuers in Ireland. The Leo Clare women in business network has a diverse range of female entrepeneurs across varying sectors including; hospitality, retail, manufacturing, craft, food, tourism and new comers at early stage start up. The network welcomed back loyal members and greeted new members to the group. Collectively the business that were in attendance at this event employ in excess of over 450 people collectively, and this figure continues to grow. The presentation highlighted the importance of developing a business growth strategy. “Most small business owners are too busy or are too close to their business to …

SHANNON based company Reagecon has announced its intention to create 40 new jobs in the next 12-24 months. It has also targeted annual export revenues of €50 million by 2020. Founded in Shannon 25 years ago it manufactures and exports physical and chemical standards and reagents for laboratories worldwide. The products are developed and manufactured in Shannon and sold through distributors in 150 countries and directly to end users in Ireland and China through Reagecon’s sales offices in Shannon, Co. Clare, Ireland, and Shanghai, China. John Barron, Managing Director and Chairman of Reagecon said that the new jobs form part of “an ambitious programme of scaling”. He confirmed that all of the 40 new jobs, 15 of which have recently been filled, are high value Chemist positions.  The company presently operates from a 64,000 square foot facility in Shannon and employs 86 people, over half of which are scientists. “Since the beginning of 2011, we have developed a major pipeline …

THERE is a doubt about the future of Shannon Knights, according to accounts filed during the summer, which show accumulated losses of almost €1.75 million. Established in 1972, Shannon Knights has always been family run and has been one of the most prominent social centres in Shannon for decades. A little over five years ago, there was a multi-million euro revamp and in advance of its reopening in 2010, management spoke of expanding their clientele to Limerick and Ennis but economic conditions since then have proven difficult. The accounts, which were prepared by Curtin O’Friel & Co Chartered Certified Accountants and deal with the year up to the end of August of last year, state that the company had accumulated losses of €1,745,549. They state, “These conditions, along with the other matters explained in note 1 to the financial statements, indicate the existence of a material uncertainty which may cast significant doubt on the company’s ability to continue as a …

DESPITE Shannon Airport’s much vaunted recovery, Shannon Group is about to seek redundancies from staff, with talks between management and unions set to begin next week. Shannon Group is a commercial semi state, with Shannon Airport as its core and also encompassing Shannon Commercial Enterprises (formerly Shannon Development)Shannon Castle Banquets and Heritage Limited (formerly Shannon Heritage) along with the International Aviation Services Centre. In a statement to the Clare Champion on Wednesday evening Shannon Group claimed that the redundancies are required to help its competitive position. “The necessity to address the cost base of the Shannon Group business units has been known for some time. In recent times it has been referenced in the Shannon task force report and subsequent annual reports. We are exploring options to address this including a voluntary severance scheme. This will make for a more sustainable business model going forward.” No details of what terms will be offered to staff looking to depart have been …

WITH the Government this evening announcing the sale of the State’s stake in Aer Lingus, a Fine Gael source this evening told the Clare Champion that Shannon-US services will be enhanced as a result of the transaction. It is understood that British Airways (which is owned by IAG) will continue to use Shannon’s US  Customs and Border Protection pre-clearance facilities, and in the future it may actually pick up passengers at Shannon, effectively extending the range of US services from Shannon, something that would be welcomed by local business interests. While IAG CEO Willie Walsh had previously ruled out increasing a five year commitment to maintaining Shannon-Heathrow connectivity, this will be increased to seven years. It is understood the assurances have calmed at least some political nerves in Clare, but the issue is still set to provoke local and national debate in the coming days. The chairman of Shannon Group plc, Rose Hynes, has  welcomed the proposed IAG takeover of …