DAA to service debt until airports separate

A GOVERNMENT TD has claimed Cork airport’s debt for its new terminal will remain with Dublin airport until the country’s airports separate in three years time.

With Transport Minister Noel Dempsey expected to make an announcement in the coming days on the delay of the break-up, Cork South Central Fianna Fáil TD Michael McGrath said he had met with Mr Dempsey to discuss the airport and the need to give the Cork board a “degree of autonomy” in the short term to enable them to make decisions affecting the airport.

Mr McGrath said, while it was disappointing the economic conditions could not facilitate separation at present, he still believed Cork airport would be best served as an independent legal entity. “However, for an independent Cork airport to prosper, it is essential that the economic conditions are favourable. In the present circumstances, it would seem immediate legal separation is not in Cork airport’s best interests. Should the minister decide to postpone the separation, it is important to note the debt associated with Cork airport will remain with the Dublin Airport Authority and will be serviced by DAA.