DAA Plc (ex-Dublin Airport Authority) expects to retain control of Cork Airport and plans to invest EUR 40 million in its development over the next four to five years. The Government is due to review Cork's ownership, as previously announced in its national aviation plan four years ago, but the DAA said it remains committed. "We think we have been a really good custodian of the business in Cork. We would like Cork Airport to remain part of the DAA family. It's a key part of the business," said DAA Chief Executive Dalton Philips. He said that spinning out Cork from DAA control would not benefit the airport, suggesting Ireland does not have a great track record of independently-owned airports. In its national aviation policy document in 2015, the Government said ownership of the State-run airports would be reviewed in 2019 and at five-year intervals thereafter. DAA is an airport operator and retail group with businesses in 13 countries, owned by the Irish State and headquartered at Dublin Airport. DAA owns and manages the Dublin and Cork airports and has international airport operations and investments in Cyprus, Germany, and Saudi Arabia. ARI, its travel retail subsidiary, has operations in twelve countries, with outlets in Europe, North America, the Middle East, India, and Asia-Pacific, and it also holds the Group’s 20% stake in Düsseldorf Airport. DAA also provide aviation advisory services through the DAA International consultancy business. The Group’s core purpose is to connect Ireland with the world and its vision is to be an airport industry leader. The Group employs 3,500 people at its Irish airports and has a further 800 people working for its international businesses. -- Dublin Airport Central is Ireland’s next-generation business destination located directly opposite Terminal 2.

Momberger #1117.10

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