In October 2004, Aer Rianta (which is the Irish for 'Air Ways' or 'Air Tracks') was renamed Dublin Airport Authority plc, a result of the State Airports Act 2004. All assets and liabilities previously owned by Aer Rianta were transferred to Dublin Airport Authority. The State Airports Act 2004 also established new airport authorities at Shannon and Cork Airports. The Shannon Airport Authority and the Cork Airport Authority had separate boards of directors and were authorised under the Act to prepare business plans, which may have in time lead to their full separation from the Dublin Airport Authority. Following a decision by the Irish Government, Shannon Airport became a separate publicly owned airport on 31 December 2012.