State airports company DAA settled its court case with outgoing chief executive, Kenny Jacobs, for “considerably less” than an earlier deal reported to have been €960,000, according to the Government.
Both sides told the High Court on Thursday that they had settled an action begun by Jacobs after the company suspended him pending the outcome of an investigation.
Darragh O’Brien, Minister for Transport, said afterwards that he understood the settlement was “considerably less” than an earlier sum agreed between Jacobs and the DAA late last year.
That figure was reported to have been €960,000. O’Brien and his colleague, Jack Chambers, Minister for Public Expenditure, had refused to sign off on that settlement.
The transport minister said that while he was not required to approve the settlement that ended the High Court case between Jacobs and DAA, the company’s board kept his officials informed of developments.
“It is important now that the DAA continues to focus its full attention on its core responsibilities, in particular the effective operation, management and future development of our airports,” he said.
Separately, Jacobs said he was pleased that his dispute with the DAA’s board had been resolved and an agreement reached.
“I am immensely proud of the outstanding performance DAA achieved in my time as CEO with record operational, commercial and financial results,” he said, adding that he wanted “to sincerely thank the exceptional teams at Cork airport, Dublin Airport, ARI and DAA International and wish them the very best in the future”.