Olivia Mitchell (Dublin South, Fine Gael)

Every time this issue arises, the Minister maintains it is a complex problem and that he will not impose deadlines. The Minister cannot continue indefinitely to stand back from the issue. He must get involved with the financial issue of Cork Airport and make good his promise to ensure it can incorporate debt-free. That promise was given and must be fulfilled. Cork Airport must be allowed to set up on its own without the debt — currently an unknown level of debt — hanging over it. It must also be made clear from the point of view of Dublin Airport.

The Minister consistently says he will not get involved and will stand back. That is not good enough. The stalling is causing major problems for Dublin and Cork airports. Neither can prepare any kind of realistic plan. Cork Airport does not know whether it will have to carry the debt of €160 million, which I now understand may be closer to €200 million. Neither does Dublin Airport know if it will have to carry the debt. Both airports are facing an open skies policy in the very near future where they will not compete with each other but with the largest airports in Europe. All the main airports in Europe will be in competition for the new long-haul business likely to emerge, particularly from the United States. Dublin and Cork airports must be in a position to meet that challenge of competition and to exploit the opportunities it will offer.

At the time of the passing of the Bill two years ago, a political promise was given, and a political solution must be found to ensure the promise is fulfilled, so that Cork Airport can be set up as a stand-alone company entirely debt-free with some chance of survival. The Minister says that under company law this cannot be done, otherwise there are no assets to distribute. A report from the board of the Great Southern Hotels said the hotels should be sold and the Minister seemed to accept that was possible. Surely Cork Airport would be entitled to some part of the proceeds of the hotel group sale, on distribution? Is that a possible solution? Has the Minister a solution? Will he stand back indefinitely, let time go by and hope we will all forget about it?

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