Martin Cullen (Waterford, Fianna Fail)

I propose to take Questions Nos. 6, 17, 57, 65 and 72 together.

In keeping with the provisions of the State Airports Act 2004, the board of the Dublin Airport Authority has a statutory mandate to do everything necessary to give effect to the restructuring of the State airports. The Shannon and Cork airport authorities were incorporated in October 2004 and in line with the framework provided by the State Airports Act 2004, these two new authorities will in due course own and operate their respective airports once sufficient distributable reserves are available to transfer the relevant assets.

Prior to the assets of Shannon and Cork airports being vested in their respective authorities, their boards are charged with preparing to assume full responsibility for the management and development of their airports. They are also empowered to undertake functions delegated to them on an agreed basis by the Dublin Airport Authority. Each of the airport authorities is also required to prepare comprehensive business plans for their airports. As part of this process, the Dublin Airport Authority will consider the future direction of its business, including the position of its subsidiaries.

In accordance with the 2004 Act, the transfer of assets to Shannon and Cork airport authorities cannot take place earlier than 30 April 2005 and, thereafter, a phased approach will allow one of the new airport authorities to be vested first, that is, Shannon Airport, while Cork Airport will be vested once sufficient distributable reserves have been built up within the Dublin Airport Authority.

The Minister for Finance and I must be satisfied as to the state of operational and financial readiness of the Shannon and Cork airport authorities before the assets of the airports are vested in those authorities. The formulation of comprehensive business plans by the new boards will be a key aspect of achieving operational and financial readiness. The three airport authorities are preparing comprehensive business plans with the Dublin Airport Authority co-ordinating the process. Finalised business plans have not yet been submitted.

As part of its business plan, the Dublin Airport Authority will be putting forward its proposals for the future of the Great Southern Hotels group. I have had discussions with the Minister for Arts, Sport and Tourism about the Great Southern Hotels group and I am aware of their importance to Irish tourism. I will consider the DAA's proposals in consultation with the Minister for Finance in the overall context of the business plans as provided for under the State Airports Act 2004.

See this speech in context