Mr. Reid Moody:

Yes, we have done quite a lot of analysis over the years on this particular subject. It is slightly relative because there are always the outliers of the likes of Heathrow Airport but on a European basis, we see Dublin as being roughly average.

On the earlier point we think the regulatory regime that goes into this here is apt because, again Covid-19 aside, the prices that have been imposed on Dublin Airport have enabled it to deliver a healthy profit as well over the long term. They are able to put in the investment, charge the price imposed on them by the regulator, and deliver a healthy profit. We do not see that there is anything wrong with that.