Results 4,601-4,620 of 4,893 for speaker:Séamus Brennan

Seanad: State Airports Bill 2004: Committee Stage. (14 Jul 2004)

Séamus Brennan: There is a difference between the legal and operational situations.

Seanad: State Airports Bill 2004: Committee Stage. (14 Jul 2004)

Séamus Brennan: The boards will be put in place and will be required to prepare business plans and to make an agreement with Dublin Airport as to what functions they can carry out on its behalf. I hope they can reach sensible arrangements in terms of what Cork and Shannon Airports can do while under the umbrella of Dublin Airport. Such arrangements must be of a day-to-day nature. I do not envisage any...

Seanad: State Airports Bill 2004: Committee Stage. (14 Jul 2004)

Séamus Brennan: This matter is dealt with in the legislation and is not necessarily an issue to be dealt with by me. I hope they will try to create new business. As I outlined already, staff cannot be transferred. They can continue to work in the airports but cannot legally be transferred until April 2005. They should first take urgent and vigorous steps to create new business. I am certain the three boards...

Seanad: State Airports Bill 2004: Committee Stage. (14 Jul 2004)

Séamus Brennan: Amendment No. 24 would amend section 8(12), where Cork and Shannon are performing functions on behalf of Dublin before their respective appointed days under section 8(1). The performance by these authorities of such functions, to include provisions of services and facilities related to such functions, will already be subject to the terms of an agreement in place between Dublin Airport...

Seanad: State Airports Bill 2004: Committee Stage. (14 Jul 2004)

Séamus Brennan: Section 8(13) provides that an airport authority can, with the approval of the Minister and after consulting the Minister for Finance, establish a new airport, become part owner of an airport and manage or operate an existing airport. Under subsection (10), an airport authority is given the power to manage, operate and develop any other airport established or owned by it under subsection...

Seanad: State Airports Bill 2004: Committee Stage. (14 Jul 2004)

Séamus Brennan: There is no new intention in the Bill other than to carry through what was in the 1998 legislation, which allowed Aer Rianta to invest in other airports and to get involved in their management. We are carrying that through to the new authorities, which is what is before us here. I have no plans to bring the regional airports into State ownership. In regard to Dusseldorf and so on, I explained...

Seanad: State Airports Bill 2004: Committee Stage (Resumed). (14 Jul 2004)

Séamus Brennan: I do, but I will make no comment. Have I responded to the points raised about amendments Nos. 24 and 25?

Seanad: State Airports Bill 2004: Committee Stage (Resumed). (14 Jul 2004)

Séamus Brennan: Senator Ross asked me about the possibility of a second terminal at Dublin Airport. I have made it clear that I believe a second terminal is needed and that it should be an independent terminal. The Government is examining this matter at the moment and in the near future we will be able to make a final decision about it. The Senator asked me about the position of Aer Rianta on this matter. I...

Seanad: State Airports Bill 2004: Committee Stage (Resumed). (14 Jul 2004)

Séamus Brennan: Yes.

Seanad: State Airports Bill 2004: Committee Stage (Resumed). (14 Jul 2004)

Séamus Brennan: I do not really want to get into this debate today, but the Senator has asked some straight questions. The Government is considering issues to do with the integration of the airport, where a terminal might be in terms of the master plan for the airport and residual freehold ownership issues. For example, the airport could have some type of emergency in which residual ownership is an issue, or...

Seanad: State Airports Bill 2004: Committee Stage. (14 Jul 2004)

Séamus Brennan: Section 3 is intended to cover administrative funds and not large restructuring funds. It enables the Minister for Transport to have expenses incurred in the administration of the Act paid out of public funds subject to the consent of the Minister for Finance. These may be incurred in establishing the boards, administrative expenses like fees for establishing companies and so forth. It also...

Seanad: State Airports Bill 2004: Committee Stage. (14 Jul 2004)

Séamus Brennan: Amendments Nos. 2, 4 and 5 would have the effect of requiring that the Dublin appointed day order would come under section 5(1). It would also require that both Ministers would have to be satisfied as to the operational and financial readiness of all three airports before making the Dublin order as well as the Cork and Shannon orders. These amendments are contrary to the policy objective of...

Seanad: State Airports Bill 2004: Committee Stage. (14 Jul 2004)

Séamus Brennan: As the Bill is drafted, the three plcs will be established immediately after the Bill is enacted. However, it may take a number of weeks to get through a number of procedures. As soon as is possible, the three plcs will be established and the memorandum and articles of association drawn up and agreed. On the establishment of the plcs I will sign the necessary orders for the boards to take office.

Seanad: State Airports Bill 2004: Committee Stage. (14 Jul 2004)

Séamus Brennan: Amendments Nos. 6 and 7 relate to section 5(3) and seek to provide that both Ministers must be satisfied as to sustainable viability and the viability of the three airports, as well as operational and financial readiness prior to the making of orders for Shannon and Cork appointed days. It is a matter for the new airport boards to draw up business plans and marketing strategies for their...

Seanad: State Airports Bill 2004: Committee Stage. (14 Jul 2004)

Séamus Brennan: I have little to add to what I have already said. The company must consider whether it wishes to stay in the hotel business or move it on.

Seanad: State Airports Bill 2004: Committee Stage. (14 Jul 2004)

Séamus Brennan: The Senator quite rightly said it could do this by building up revenue reserves but I made the point earlier that if we never made these changes the current board, or its successor if there was no restructuring, must look at some cash realisation programme. The likely targets are some of the international airports it owns because they offer substantial possible gains. There are also...

Seanad: State Airports Bill 2004: Committee Stage. (14 Jul 2004)

Séamus Brennan: Between Aer Rianta International and Aer Rianta, there is some €30 million to €40 million in unpaid dividends. They have the reserves to pay that amount if that course of action is taken. This is a public limited company, and I confess the proposed legislation is complicated. However, the issues are being resolved and the best advice is being obtained. The Aer Rianta International option...

Seanad: State Airports Bill 2004: Committee Stage. (14 Jul 2004)

Séamus Brennan: I want to be helpful to the Senator. I appreciate he wishes this to be an opportunity to provide information. Aer Rianta International is able to pay the dividend. I am not clear how it will fund the repayment.

Seanad: State Airports Bill 2004: Committee Stage. (14 Jul 2004)

Séamus Brennan: The dividend is there and Aer Rianta International can afford to pay it. I am not clear whether the money is in the bank, in a drawer, in the reserves or elsewhere. I can check that information. It is in a position to pay the dividend, and that is part of the financial architecture of this scheme. All companies buy and sell assets. If companies buy assets, it follows that companies sell...

Seanad: State Airports Bill 2004: Committee Stage. (14 Jul 2004)

Séamus Brennan: I am referring to international assets. Companies often make decisions about whether to sell assets, such as aeroplanes, and buy more buses, or to use €100 million to buy rolling stock, aircraft, jetties or terminals instead of locking the money in a site. These are sensible decisions. That is why investments are made. I favour maximum flexibility. Ancillary incomes are there for when State...