Ryanair wants DAA chairman to resign over Anglo

RYANAIR CALLED yesterday for Gary McGann to resign as chairman of the Dublin Airport Authority (DAA) in the wake of his decision…

RYANAIR CALLED yesterday for Gary McGann to resign as chairman of the Dublin Airport Authority (DAA) in the wake of his decision on Monday to quit the board of troubled financial group Anglo Irish Bank, which is being nationalised.

Mr McGann, who is chief executive of packaging group Smurfit Kappa, had served as a non-executive director of Anglo Irish Bank since January 2004 and stepped down from the bank on Monday with four other directors.

In a statement, Ryanair said: “Given the fact that Mr McGann resigned as a director of Anglo Irish Bank and given his failure as chairman of Anglo’s audit committee to ensure that shareholders were fully aware of the extent of the multimillion-euro director loans, Ryanair does not believe that Mr McGann is a suitable or appropriate director or chairman for a Government-owned airport authority.

“Should Mr McGann fail to resign from DAA, then we call on the Department of Transport to dismiss Mr McGann as someone who is no longer suitable or appropriate to be chairman of the Government’s airport monopoly.”

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The DAA said it would not “dignify” Ryanair’s statement by issuing a response.

Minister for Transport Noel Dempsey declined to comment on Ryanair’s statement.

Ryanair has been at loggerheads with the DAA for a number of years over airport charges and the authority’s €2 billion investment programme for Dublin airport.

Mr McGann stepped down from the Anglo board following the government’s decision to take control of the bank.

This move came after a collapse in Anglo’s share price following the resignations of chairman Seán FitzPatrick and chief executive David Drumm. This in turn was in the wake of a controversy over the non-disclosure of €87 million in loans provided to Mr FitzPatrick.

Ciarán Hancock

Ciarán Hancock

Ciarán Hancock is Business Editor of The Irish Times