David Stanton (Cork East, Fine Gael)
Link to this: Individually | In context

Question 81: To ask the Minister for Transport the position regarding the debt at Cork Airport; and if he will make a statement on the matter. [45904/09]

Noel Dempsey (Meath West, Fianna Fail)
Link to this: Individually | In context

Much of the Cork Airport debt was incurred in financing the new terminal and other infrastructure at the airport. In the event of full separation of Cork Airport, under the State Airports Act, 2004 my position has always been that the sharing of this debt between the Cork and Dublin Airport Authorities would have to take account of what is commercially and financially feasible for both authorities.

Following mediation on the matter in 2008 it was agreed that the Cork Airport Authority will take responsibility for €113 million of the debt in return for the transfer to it of net assets of €220 million, on the separation of the airport under the State Airports Act 2004. The Deputy will be aware that, having regard to the impact of the recession on the aviation sector, I have postponed a decision on airport separation until 2011.