DAA CEO Did Not Disclose Airline Shares Despite Minister's Inquiry

Dublin Airport Authority chief executive Kenny Jacobs did not disclose his private airline investments to the Department of Transport when he joined the board of the State company, despite being asked by then minister Eamon Ryan to declare any potential conflicts. Mr Jacobs, a former Ryanair executive, became DAA's chief for a seven-year term in January 2023 and joined its board as an ex officio director. He later informed an Oireachtas committee about his shares in multiple airlines operating at Dublin Airport but claimed there was no conflict of interest.

Although Mr Ryan had requested Mr Jacobs to disclose any potential conflicts when appointing him to the board, the department stated that he did not disclose any conflicts. The department mentioned, 'Mr Jacobs informed then minister for transport Eamon Ryan when accepting the position that he had no conflict of interest to declare.'

Mr Jacobs revealed to an Oireachtas committee in June 2024 that he owned shares in 12 airlines with operations at Dublin Airport but believed there was no conflict of interest. He stated, 'Given it’s 12 different airlines who are all customers of Dublin Airport, I don’t think it’s a conflict. I think owning 12 – not owning one or two in particular – I don’t think is a conflict.'

It later emerged that Mr Jacobs owned shares in three major airline groups – Ryanair, IAG, and Lufthansa – which own multiple subsidiary carriers operating at Dublin Airport. IAG subsidiaries include Aer Lingus.

The Department of Transport responded to queries from The Irish Times after releasing documents on Mr Jacobs’s appointment to campaigners against airport night flights and the new north runway. St Margaret’s the Ward Residents’ Association obtained the files through the Freedom of Information Act.

Liam O’Gradaigh, the spokesman for the residents’ group, expressed concern over Mr Jacobs's lack of disclosure, stating, 'It is quite clear that Mr Jacobs was obliged to bring to the attention of the Minister and his department any potential conflicts of interest.'

Mr Ryan declined to comment on whether Mr Jacobs should have disclosed the shares. The department mentioned that incoming DAA directors were 'invited' to disclose any potential conflicts of interest at the time of their appointment.

DAA did not respond to questions regarding Mr Jacobs’s failure to disclose his airline shares to the minister. The company reiterated a statement from June 2024, saying, 'Mr Jacobs holds legacy shareholdings in three airline groups that predate his joining DAA. These holdings, which remain unchanged, were fully disclosed by Mr Jacobs in all returns made to Sipo since taking up the CEO role.'