Government poised to ease airport’s burden of debt

CORK Airport will not get the debt-free status promised by former Transport Minister Seamus Brennan, but will receive some relief from the burden, the Irish Examiner has learned.

Transport Minister Martin Cullen will make a final decision by early autumn on the level of debt the airport must bear as an independent entity. While the debt-free status promised is seen as unsustainable, a senior source within Government this week gave reassurance that the level of debt with which Cork will be burdened as a result of its €180 million redevelopment will not leave it in a vulnerable position.

According to the source, the last thing the Government wants to do is to cut the apron strings and burden Cork with such debt that it would be bound to fail.