Cassells report fails to carve up airports

FORMER trade union boss Peter Cassells yesterday recommended that Dublin Airport make a contribution of €10 million to Cork for pensions and other funding requirements in the separation of the two airports.

The report, commissioned by Transport Minister Noel Dempsey, focused on how Cork Airport’s €220m debt should be divided between Cork and the Dublin Airport Authority in the event of a final separation.

Agreement should be sought from the European Investment Bank to transfer €113m from the DAA to the Cork Airport Authority, reducing Dublin’s indebtedness. Development land at Cork Airport and the Brooklyn business park, valued between €50 to €70m, should be handed over by the DAA, it states.