Noel Ahern (Dublin North West, Fianna Fail)

I thank Deputy Coveney for raising this matter. The State Airports Act 2004 provides the framework for the establishment of Shannon and Cork as independent airports. As part of the airport restructuring process, the boards of Cork and Shannon airports are required to prepare business plans for eventual separation. Due to the fact that they are interlinked, the production of the three airport business plans will have to be co-ordinated by the Dublin Airport Authority, DAA, to ensure overall coherence, before they are submitted to the Ministers for Transport and Finance for approval under the Act. In their examination of the plans, both Ministers will have to be satisfied that the airports have the capacity to operate on a sound commercial basis before giving final approval to them.

The Minister for Transport understands that the Dublin Airport Authority has been advised by consultants on an appropriate financing proposal that would facilitate the statutory objective of the separation of Cork Airport from the DAA in a timely manner, consistent with the requirements of the State Airports Act 2004 and the Companies Acts. The Minister is aware that the outcome of this analysis was that Cork Airport could sustain a certain level of debt while remaining a very viable enterprise.

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