Debt burden will stifle airport development

I TAKE issue with your ‘elevation’ of former Cork Airport Authority (CAA) chairman Joe Gantly as Business Person of the Week (April 26).

I have concerns for our airport that have not been alleviated by your positive portrayal of Mr Gantly.

The plain fact is that he presided over disastrous decisions for the future of the airport — decisions that leave a legacy of debt that will stifle development and competitiveness for the foreseeable future.

Under his leadership the board of CAA accepted crumbs from the DAA table and swallowed a Government U-turn about the future viability of a restructured Cork airport.

In the wake of all of this he and the other airport board directors should have opted for resignation rather than humiliation. In my estimation, Cork passengers will have to pay at least €20 million yearly for the next 20 years to cover this outrageous debt.

The inevitable outcomes are:

(1) Higher charges.

(2) Restrictions on necessary ongoing investment, and

(3) Sell-off of assets to deep-pocketed developers.

The latter scenario now looms large. Do not be surprised to see the secondary runway closed down and used for short-term expediency.

It is about time the CAA board and management were up front with airport users.

Tom O’Mahony

16 The Avenue

Highfield Park

Ballincollig

Co Cork