The European airport operator Planestation has taken a 30 per cent stake in EUjet, the low-cost airline set up by former Ryanair executive Mr P.J. McGoldrick.

The stake cost Planestation £2 million sterling (€2.9 million), according to a statement released to the stock exchange. Based on this, EUjet has a valuation of about €9.6 million at this stage. The acquisition gives Planestation the second-highest stake in the airline after Mr McGoldrick.

Planestation operates airports throughout Europe, including Manston in southern England, Pilsen airport in the Czech Republic, Lahr Black Forest airport in Germany, and Ajman airport in the United Arab Emirates.

EUjet yesterday announced the launch of six new routes out of Shannon Airport.

At the launch, the Minister for Transport, Mr Brennan, said if the Government was not to establish an independent Shannon Airport, the airport's future would be in serious doubt.

With the Bill allowing for the break-up of Aer Rianta due to go before the current Dáil session, Mr Brennan said: "We can't stand still. We have to make changes and they are for the better and I have never been more confident about the future growth of the Shannon region."

The Tánaiste, Ms Harney, is believed to be studying a proposal that could generate €6 million per annum for the new airport authority through the transfer of the control of the Shannon Free Zone. But Mr Brennan said that the €6 million is not necessary for the operation of the authority.

Mr McGoldrick, managing director of EUjet, said it would have to work against the background of recent high-profile collapses in the Irish aviation sector. "It would be a pity to put us in the same class as people who went blind into the marketplace without proper planning, with the wrong aircraft and failed."