Dempsey confident DAA can overcome financial problems

The Minister for Transport Noel Dempsey says he's confident that the Dublin Airport Authority will weather the current economic storm.

The DAA announced this week that it won't have sufficient cash to stay afloat next year unless it implements a dramatic new cost-cutting plan.

The company is planning to axe 400 jobs at Dublin, Cork and Shannon Airports and implement a pay freeze for all staff.