Mr. Basil Geoghegan:

Our starting point is that Dublin Airport in particular is competing less against the Heathrows and Frankfurts and more against the Copenhagens, Barcelonas and Milans, which are large secondary airports. When we think about charges, we believe that the overall package of the price and service we are offering needs to be at least as good, if not better, than theirs. That is why we were relatively comfortable in the prior regulatory period when charges were approximately €9.50 or €10. I cannot give the committee a prediction of how that would fall through the right regulatory model now, but it was certainly different from €7.75. Overall, that is how we view competition, and when people say they want to fly to Ireland, we hope they will fly to one of our airports and not one of the others.