Oireachtas Joint and Select Committees

Thursday, 3 July 2014

Committee on Transport and Communications: Select Sub-Committee on Transport, Tourism and Sport

State Airports (Shannon Group) Bill 2014: Committee Stage

2:00 pm

Photo of Leo VaradkarLeo Varadkar (Dublin West, Fine Gael) | Oireachtas source

The Booz report informed the Government's thinking, but it did not dictate or determine it. Subsequent to the Booz report, the Shannon task force modified and built on that thinking and effort. What is envisaged is that the airport will operate at break even or in profit running as an airport. Also envisaged is that IASC and the facilities around the airport will be profitable. It is of course a possibility that in some years the airport will be loss making where a downturn in aviation occurs as happens from time to time. That is true for any airport. Dublin Airport ran up losses for a good few years before going back into profit. That happens with airports all over the world. The airport has significant borrowing capacity and reserves at this stage.

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