Noel Dempsey (Meath West, Fianna Fail)

As with so many speculative reports in the newspapers, there is absolutely no truth to the rumour that I am reconsidering the State Airports Act 2004 with a view to not proceeding with the separation.

Prior to the general election, the Government made it clear that the restructuring proposed under the State Airport Act would have to be done in a way which would ensure not only that the future viability of Cork Airport would be protected but also that the viability of Shannon and Dublin would also be guaranteed. The Deputy is correct to state that, in the context of the improvements to be made, a cumulative amount of €1.2 billion — much of which will be carried in the form of a loan — will have to be spent at Dublin Airport. In such circumstances, every possible source of income must be examined. The business plans must be considered in the overall context and not just in respect of Cork.

Peter Cassells is trying to facilitate dialogue so I will not even speculate as to the levels of debt, if any, each of the airports might be obliged to bear following the conclusion of the process. It would not be fair to engage in such speculation.

The book value of the assets to be transferred to the Cork Airport Authority from the Dublin Airport Authority is some €220 million. Information from a number of sources indicates that the likely realisable value of those assets would be considerably higher. In such circumstances, it would be reasonable to expect Cork to pay something towards the costs involved.

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