Mr. Ronan Gallagher:

That was an extensive study of the DAA's market power. There was consultation. The industry participated fully in that process. Indecon made a series of recommendations. The Senator is right when he says that this does not represent a fundamental reshaping of the regulatory regime. While I would not describe the measures as tweaking, they are certainly an improvement because they involve nudging towards rebalancing. Provisions in the current Act require the CAR to have regard to the financial stability of Dublin Airport. When that is put into the criteria, in terms of making a determination, it places an onus on the regulator to make sure the airport is financially stable. The Department's view is that this is a matter for the management of the airport in the first instance. It considers that the regulator should be more concerned with setting a reasonable price cap that allows the airport to function over a period of time, and setting service standards within that. It is a matter for the company, rather than the regulator, to secure the financial stability of the company.