Tommy Broughan (Dublin North East, Labour)
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Question 549: To ask the Minister for Transport the overall level of debt of Dublin, Cork and Shannon Airports; the estimated level of debt for each of these airports for 2008, 2009 and 2010; and if he will make a statement on the matter. [1655/08]

Noel Dempsey (Meath West, Fianna Fail)
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The Dublin Airport Authority (DAA), which owns Dublin, Cork and Shannon Airports, has overall borrowings of just under €500 million as at the end of 2007. Just over €200 million of DAA's borrowings relates to Cork airport, almost €70 million relates to Shannon airport and the remainder relates to Dublin airport.

Following recent disposals of Great Southern Hotels and DAA's interests in Birmingham and Hamburg Airports, DAA net debt levels have fallen sharply in the short term, resulting in a temporary net cash position at the end of 2007, before rising steadily again over the period referred to by the Deputy.

Precisely what DAA's debt levels will be over this period will depend upon a number of factors. However, in the context of the DAA's Capital Investment programme over 10 years, DAA's debt position will rise substantially, with net borrowings increasing to over €1 billion over the course of the next five years.

The future level of debt at Shannon and Cork will depend on a number of factors including, most significantly, the business plans for these airports which are currently being assessed by my Department.