Cork Airport’s €200m debt ‘is a red herring’

Cork Airport’s €200m debt is a “red herring” that has no impact on its day-to-day operations but which would be even greater today had the airport been responsible for it over the past number of years, rather than the DAA.

Much of the decline in passengers passing through the country’s second-largest airport has been attributed to the overhanging debt arising from the building of a new terminal which opened in 2006,

The debt, however, sits on the balance sheet of Cork Airport’s parent company which also services the debt, according to DAA chief executive, Kevin Toland.