Cork Airport Debt

The following article comes compliments of Colm Burke MEP.

I was delighted to see media reports during last week that Ryanair is supporting the calls from Fine Gael and the other opposition parties, as well as Cork Chamber and other key groups in the area, that the Government must honour its commitment that the Cork airport Authority should not have to carry any debt in relation to the new Cork terminal building.

As is already well known, the Dublin Airport Authority, which was in control of the terminal building programme and cost over-runs, was given control of the Great Southern Hotel Group as compensation for taking on the Cork terminal debt. It sold the hotel group for over €200m. It has also sold its interests in Birmingham, Dusseldorf and Hamburg airports and could easily carry the Cork debt as a result.

The Minister for Transport continues to evade his own responsibilities in relation to Cork Airport. He has appointed a mediator to broker a deal between the Cork and Dublin Airport Authorities and the mediator is due to report by 7th March. However in advance of that mediation the Minister warned Cork that if it did not agree to a settlement with Dublin, the Dublin Airport Authority, which is Corks biggest competitor, would be left in control of Cork. So much for fair play!

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