Noel Dempsey (Meath West, Fianna Fail)

I propose to take Questions Nos. 10, 54 and 68 together.

The State Airports Act 2004 provides the framework for the establishment of Shannon and Cork as independent airports. Under the Act, both the Minister for Finance and I must be satisfied as to the state of operational and financial readiness of the three airports before any vesting of assets can take place.

The timing of airport restructuring will depend on creation of the appropriate conditions that will ensure the financial sustainability of each of the three State airports. The restructuring process will require coordinated strategies to achieve the operational and financial readiness of each airport. In this regard, the Dublin Airport Authority, DAA, has a key role to play in finalising the financial framework and co-ordinating the individual business plans for the three airports that will enable separation to take place.

The Shannon Airport Authority, SAA, recently submitted its draft business plan to the DAA and I understand that discussions have commenced between the DAA and the SAA on the content of the plan. In parallel with this process, I expect a similar engagement to occur between the Cork Airport Authority, CAA, and the DAA relating to the Cork Airport business plan, a draft of which was submitted to the DAA in recent days.

The debt issue is clearly crucial to the Cork business planning process and there will have to be agreement on this point between the Cork Airport Authority and the Dublin Airport Authority before the Cork business plan can be completed and submitted to the Minister for Finance and me. The Government's position is that the funding of the new terminal and other works at Cork Airport will have to take account not only of what is commercially and financially feasible for Cork Airport, but of what is commercially and financially feasible for the Dublin Airport Authority.

Subject to satisfactory progress being made on the plans, I await the DAA's overall considered views on airport separation to enable the plans to be examined by the Minister for Finance and me. Only then will I be in a position to consider the timing and sequencing for the restructuring of the three State airports.

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