Leo Varadkar (Dublin West, Fine Gael) | Oireachtas source

I do not know what the final proposal of the steering group will be with regard to Shannon Heritage. There are three options. It can either become a company in its own right that is totally separate from everyone else, a subsidiary of the new Shannon entity or a subsidiary of Fáilte Ireland. Shannon Heritage Limited does a very good job and runs the sites very well so wherever it ends up, it will do a good job.

The general consensus emerging from people I speak to about this is that it would not be appropriate for it to be a subsidiary of Fáilte Ireland because Fáilte Ireland is moving out of tourist attractions. It will either be separate in its own right or, more likely, a subsidiary of the new Shannon entity where it probably belongs. In practical terms for the people working there it will not make a huge difference.

It is the case that Aer Rianta International started in Shannon but it is now almost entirely an international business and much of its investments are linked to the group rather than to one airport in the group. It is intended that Aer Rianta International will remain part of the Dublin Airport Authority which will be renamed. It is also intended, if possible, to allow the new Shannon body to be debt free. Shannon Airport's debts are entirely its debts and they would be much higher were it not for Government measures in the past. If Shannon Airport's debts were to stay with the DAA, they would probably be similar to if not greater than the value of Aer Rianta International if it were sold. One must bear in mind Aer Rianta International has very few assets. It operates concessions but does not own very much.

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