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DAA set for profits jump

The Dublin Airport Authority (DAA) is likely to see its profits jump 12pc to €180m this year on the back of the improved Irish economy, according to ratings agency Standard & Poor's.

S&P has raised the DAA's corporate credit rating and said traffic volumes this year have been "well above our expectations".

It said the predicted increase in earnings before interest, tax, depreciation and amortisation (EBITDA) at the DAA, which controls operations at Dublin and Cork, will probably offset the Commission for Aviation Regulation's reduction in the maximum passenger charge that Dublin Airport can levy between 2015 and 2019.

S&P raised the DAA's corporate credit rating from BBB to BBB+.