daa delivers strong first-half performance and continues to invest for future growth
daa, the global airport and travel retail group and operator of Dublin and Cork airports, has reported a strong financial and operational performance for the first six months of 2026, driven by continued passenger growth and a resilient commercial performance across its airport portfolio.
A total of 19.6 million passengers travelled through Dublin and Cork airports during the first half of the year, an increase of 1 million passengers (+5%) compared with the same period in 2025.
For the six months ended June 30, 2026, the Group adopted amendments to FRS102 Section 20, Leases and Section 23, Revenue from Contracts with Customers. Group turnover increased by 5% to €561.9 million. Group EBITDA increased by 16% to €187.3 million noting the impact of the adoption of FRS 102 amendments in the current year (excluding the impact of FRS 102 amendments, a 4% increase on a like-for-like basis year on year). Group profit after tax reduced by 6% to €72.9 million, as the conflict in the Middle East impacted daa’s retail and consulting businesses in H1.
Despite this, the Group’s international businesses continued to perform strongly in the first half of 2026. daa International increased revenue by 13%, delivered a strong performance in Saudi Arabia and secured a new contract in Vietnam, reinforcing daa’s growing international presence. ARI secured the travel retail contract at Terminal 4 at New York JFK Airport, a significant commercial win that expands its presence in the North American market.
During the first half of 2026, daa invested €153 million in capital expenditure across the Group. This included improvements to airfield infrastructure, passenger facilities, food and beverage offerings and operational resilience at Dublin Airport, together with the continued delivery of Cork Airport’s €200 million multi-year capital investment programme.
During the period, Fred Barry, Dr Laura Burke, Lisa Dillon and Niamh O’Regan were appointed as non-executive directors of daa. Their collective experience in major infrastructure, environmental leadership and sustainability, international technology and business growth, finance, risk and corporate governance further strengthens the skills and expertise of the Board. The Group also welcomed the appointment of new Worker Directors Kevin O’Connell and Darren Kelly during the period, while MarkJames Ryan and Des Mullally were reappointed.
The Group extends its thanks to former Chair, Basil Geoghegan and Directors Karen Morton, James Kelly and Peter Cross, whose terms concluded during the first half of 2026, and to Risteard Sheridan, whose term concludes this week, for their dedicated service and valued contribution to the Board.
Gary Owens, Chair of daa, said:
“The first half of 2026 has seen continued strong demand for travel through our airports, reflecting Ireland’s growing connectivity and the importance of aviation to Ireland’s economy. Our international businesses have also performed strongly, exporting Irish airport management, operational and commercial expertise to markets around the world.
“Looking ahead, daa is entering a significant period of investment as we continue to expand capacity, enhance resilience and improve the passenger experience. Delivering that investment will require a supportive regulatory framework and sustainable access to capital so that Ireland’s two busiest airports, alongside our growing international businesses, can continue to support economic growth, tourism, trade and Ireland’s global aviation reputation.
“The Board is committed to continued engagement with our stakeholders and ensuring that daa continues to operate with strong governance, transparency and accountability.”
Nick Cole, Deputy Chief Executive Officer of daa, said:
“We have delivered a strong first half performance while continuing to improve services for passengers, invest in our infrastructure and support Ireland’s international connectivity. Our priority now is ensuring Dublin Airport can continue to grow and meet future demand.
“We continue to progress both the Infrastructure Application and the separate statutory process to lift the cap at Dublin Airport. Recent developments, including ANCA’s draft decision and our continued engagement in the statutory process, represent important progress towards securing the capacity needed to support Ireland’s future growth.
“The outcome of the Irish Aviation Authority’s review of airport charges for the 2027-2031 period will also be critically important. The regulatory framework must support continued investment in capacity, resilience and service quality at Ireland’s national airport.
“Over the coming years, daa will undertake one of the largest infrastructure investment programmes in its history while also refinancing existing borrowings and maintaining safe, secure and resilient airport operations. Our concern is that the proposed reduction in aeronautical charges for the period will not support the funding of the record investment programme and the desired improvements in operational resilience. Ensuring the right balance between affordability, investment and long-term sustainability in the final decision will therefore be essential.”
Peter Dunne, Group Chief Financial Officer, said:
“daa delivered a solid financial performance during the first half of 2026. Turnover increased by 5% to €561.9 million, while EBITDA excluding the impact of FRS102 amendment in the current year increased by 4.2% to €167.6 million, as daa continued to invest significantly in infrastructure, operational capacity and passenger services.
“The Group continues to maintain a strong balance sheet, robust liquidity and access to diversified funding sources, providing financial flexibility to support future capital investment.
“Overall, the Group’s financial position and diversified earnings base provide a strong platform for continued investment. However, geopolitical instability, regulatory uncertainty and the need to deliver significant long-term infrastructure remain important considerations for the second half of the year.”
Key first-half financial and operational highlights
- Passengers through Dublin and Cork airports: 19.6 million, up 5%
- Group turnover: €561.9 million, up 5%
- Group EBITDA pre FRS102 adjustment: €167.6 million, up 4.2%
- Group EBITDA post FRS102 adjustment: €187.3 million, up 16%
- Group profit after tax before exceptional items: €72.9 million
- Capital investment: €153 million
- Dublin Airport passenger growth: 6%
Operational performance
Dublin Airport recorded a 6% increase in passenger traffic during the first six months of 2026, while continuing to deliver high standards of customer service during a period of sustained growth. This performance was achieved against a backdrop of growing community support, with recent independent RED C research showing positive sentiment in Fingal increasing from 43% in 2024 to 55% in 2026, while strong majorities in both Fingal and East Meath recognised the airport’s contribution to jobs, economic development and regional connectivity. Support for the airport’s future development also remained high, at 78% in Fingal and 80% in East Meath.
Investment since January has included additional security resources, more passenger seating and charging points, upgraded baby-feeding rooms, a new children’s play area after US Preclearance, improved signage, enhancements to Fast Track and lounge facilities, and a broader range of food and beverage options across both terminals. The airport has also continued to strengthen its digital services through improvements to its website, app and online booking platform.
Cork Airport maintained passenger traffic close to the historically high levels recorded in 2025, down marginally by 1%. Work continued on a new mezzanine floor incorporating next-generation security screening, a dedicated FastTrack lane and an upgraded business lounge. Progress was also made on a new solar farm and the delivery of additional car parking capacity.
daa International delivered strong revenue growth and expanded its international contract base during the period. ARI, the Group’s global airport retail business, saw its performance impacted by geopolitical instability and disruption in a number of important markets at the start of the year. Nevertheless, the business continued to demonstrate resilience across its international retail portfolio while prioritising the safety and wellbeing of employees and customers.