It now forms a new, publicly-owned, commercial entity and separates from Dublin and Cork Airports.
Management at Shannon are hoping independance will be good for business and jobs in the mid-west - however some workers there are expressing concern about the longterm viability of the new company and the security of their jobs.
Today, all arriving passengers are being given free refreshments and commemorative cupcakes to mark the occasion.
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Head of Operations at Shannon Airport, Niall Moloney, said they're feeling positive about the New Year:
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