Michael Lowry (Tipperary, Independent) | Oireachtas source

I thank Senator Craughwell. I congratulate Mr. Jacobs on his appointment. Obviously, the DAA is hugely important to our country for economic growth and development. It needs leadership, commitment and innovation. I accept, as everyone does, that Dublin Airport performing well and efficiently is hugely important for the entire country, not just Dublin and the Leinster region.

Mr. Jacobs mad a very stark comment about the decision of CAR on pricing. He stated, "In its decision, the regulator has disallowed the recruitment of up to 240 of the security staff needed at Dublin Airport by 2026, which, in the context of [what happened last year] post-Covid, is ... unwise and inexplicable." Could he elaborate on that a bit more? As a committee, we have a role to play in finding the correct balance in terms of the DAA's recruitment. If we need to be in contact with CAR, then as a committee we should do it.

I was interested in a comment Mr. Jacobs made about how increased airport charges should not impact on the airline ticket price. I think all of us laypeople would say that if the charges are higher, it reflects in the ticket price. Can Mr. Jacobs tell us how he came to that conclusion?

Mr. Jacobs set out the reasons the secondary hub is hugely important to further development. He went on to say that the DAA has provided €1.9 billion of investment within its own budgetary parameters.

What is the total investment required to bring a secondary hub on stream, and where does DAA expect to get that funding from?

Could Ms Gubbins give us a general outline of the financial position of the DAA as it stands? What reserves has it? What investment planning has been done? For those who do not know, including me, could Ms Gubbins state where the revenue comes from principally? How is it structured? Ultimately, what is the current position of the DAA financially?