Martin Cullen (Waterford, Fianna Fail)

I propose to take Questions Nos. 59, 135 and 168 together.

As stated previously, funding of the new Cork Airport terminal will be obliged to take account not only of what is commercially and financially feasible for Cork Airport but also of what is commercially and financially feasible for Dublin Airport. Future plans for both Shannon and Cork as independent airports must have regard to the capacity of each to contribute to its own capital investment programme.

Under the State Airports Act 2004, before assets can transfer to the Shannon or Cork airport authorities, both the Minister for Finance and I must be satisfied as to the financial and operational readiness of both bodies. Accordingly, each of the three airport authorities is required to prepare a comprehensive business plan and obtain our joint approval for these plans before assets can be transferred to the airports. The three airport authorities are working on the preparation of these plans, with the Dublin Airport Authority, DAA, co-ordinating the process. A range of issues need to be carefully considered in this work, including the optimum mechanisms for the financing of the new terminal in Cork and the allocation of airport assets among the three airports.

These are complex issues that the airport authorities must consider carefully and, as stated previously, I have not imposed artificial deadlines for the completion of this process. My Department will continue to liaise with all three authorities on the business planning timetable, taking account of the key issues that I have mentioned. The capacity of Cork Airport to operate on a fully commercial basis will be fully assessed as part of this process and will be factored into the decisions to be made. I look forward to the finalisation of the business planning process because of its importance in facilitating the development of dynamic, independent and financially sustainable State airports. The Government objective of airport restructuring will be achieved in a manner that underpins the financial sustainability of all three State airports.

The delay in the opening of the new terminal at Cork is an operational matter for the DAA and Cork Airport Authority and I have no statutory functions in this regard. However, I understand that construction of the terminal will be completed within a matter of days.

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