Ciarán Lynch (Cork South Central, Labour)
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Question 25: To ask the Minister for Transport the position regarding the establishment of an independent Cork Airport; the way the debt associated with this process is to be allocated; and if he will make a statement on the matter. [24280/07]

Deirdre Clune (Cork South Central, Fine Gael)
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Question 50: To ask the Minister for Transport when he will establish Cork and Shannon Airports as independent entities as outlined under the State Airports Act 2004; and if he will make a statement on the matter. [23977/07]

Simon Coveney (Cork South Central, Fine Gael)
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Question 69: To ask the Minister for Transport the status of the business plan for Cork Airport in view of the State's offer to absorb a proportion of its debt; if it is envisaged that autonomy is imminent for Cork Airport; and if he will make a statement on the matter. [24345/07]

Deirdre Clune (Cork South Central, Fine Gael)
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Question 70: To ask the Minister for Transport if he will transfer the new airport terminal to the Cork Airport Authority on a debt free basis; and if he will make a statement on the matter. [23978/07]

Noel Dempsey (Meath West, Fianna Fail)
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I propose to take Questions Nos. 25, 50, 69 and 70 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 will have to be satisfied as to the state of operational and financial readiness of the three airports before any vesting of assets can take place. The actual timing of airport restructuring will continue to depend on the creation of the appropriate conditions that will ensure the financial sustainability of each State Airport. The airports will require coordinated strategies for the achievement of operational and financial readiness and the Dublin Airport Authority (DAA) has a key role to play in finalizing the financial framework and coordinating business plans that would enable airport separation to take place. I will be considering the complex issues involved in the coming months.

I understand that the Dublin Airport Authority (DAA) 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 approach to the debt issue is crucial to the business planning process and will have to be addressed by the Cork airport board and the DAA, in the first instance, before any business plan is submitted to me and the Minister for Finance for our approval under the State Airports Act 2004.

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 also what is commercially and financially feasible for Dublin Airport. In deciding what level of debt is to be borne by Cork, it will have to be manifest to all concerned that it is a manageable debt burden that would not put at risk the airport's commercial future.