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03/04/2008
Cassells Recommends Cork Pay Terminal Debts
Trouble-shooter and former trade union leader Peter Cassells has recommended that Cork Airport should pay a €100 million debt to end a dispute with Dublin Airport.
Mr Cassells had been asked to mediate in a row between Dublin Airport and Cork Airport over who should pay the €220m bill for the new terminal building at Cork Airport.
After breaking up Aer Rianta, the Government promised that Cork airport would be allowed to begin independent operations debt-free.
Dublin Airport Authority (DAA), however, refused to pay the cost of the Cork terminal and said it would not engage with Cork unless it agreed to pay at least €100m of the debt.
In his report, Mr Cassells recommends that in return for Cork Airport Authority (CAA) paying €113 million, the DAA should transfer ownership of land around the airport to the CAA, along with its stake in the Brooklyn business park. He also advised the DAA to make a payment of €10 million to the CAA to help it meet pension and other funding requirements.
Overall, Mr Cassells suggestions would see the CAA gain €220 million worth of assets while the DAA would reduce its debt by €113 million.
In a statement, Transport Minister Noel Dempsey urged the airports to accept the recommendations. He said: "Having considered them, I believe they represent a sensible solution, which I would urge both parties to accept as soon as possible."
The debt has been a major issue since the CAA was established in August 2004 and it is expected that the recommendations will not go down easy with the authority.
Both airports are currently "studying carefully" the report's findings.
(VB)
Mr Cassells had been asked to mediate in a row between Dublin Airport and Cork Airport over who should pay the €220m bill for the new terminal building at Cork Airport.
After breaking up Aer Rianta, the Government promised that Cork airport would be allowed to begin independent operations debt-free.
Dublin Airport Authority (DAA), however, refused to pay the cost of the Cork terminal and said it would not engage with Cork unless it agreed to pay at least €100m of the debt.
In his report, Mr Cassells recommends that in return for Cork Airport Authority (CAA) paying €113 million, the DAA should transfer ownership of land around the airport to the CAA, along with its stake in the Brooklyn business park. He also advised the DAA to make a payment of €10 million to the CAA to help it meet pension and other funding requirements.
Overall, Mr Cassells suggestions would see the CAA gain €220 million worth of assets while the DAA would reduce its debt by €113 million.
In a statement, Transport Minister Noel Dempsey urged the airports to accept the recommendations. He said: "Having considered them, I believe they represent a sensible solution, which I would urge both parties to accept as soon as possible."
The debt has been a major issue since the CAA was established in August 2004 and it is expected that the recommendations will not go down easy with the authority.
Both airports are currently "studying carefully" the report's findings.
(VB)
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Cork Airport Accepts Debt Deal
Cork Airport Authority (CAA) has put an end to their long-running dispute with Dublin Airport by accepting recommendations that it assume millions of euros in debt as the price of independence. Last night, the CAA held a crunch meeting and agreed 'in principle' to accept the debt, in return for its independent operations.
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Cork Airport Authority (CAA) has put an end to their long-running dispute with Dublin Airport by accepting recommendations that it assume millions of euros in debt as the price of independence. Last night, the CAA held a crunch meeting and agreed 'in principle' to accept the debt, in return for its independent operations.
04 April 2008
Minister For Cork Slams Cassells Report
A Fine Gael Front Bencher has called on the Government to honour the commitment given to Cork Airport and reject the Cassells report. The TD for Cork South Central, Simon Coveney, has spoken out over the controversial report, claiming the government is reneging on their promise that Cork Airport would open debt free.
Minister For Cork Slams Cassells Report
A Fine Gael Front Bencher has called on the Government to honour the commitment given to Cork Airport and reject the Cassells report. The TD for Cork South Central, Simon Coveney, has spoken out over the controversial report, claiming the government is reneging on their promise that Cork Airport would open debt free.
10 February 2011
London, Belfast, Dublin And Cork Unite In Sympathy Over Crash
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12 June 2012
Stapleton Trial: Court Hears Garda Feared For His Life
A court has heard how garda Michael Bohane feared for his life when a man put a knife to his throat and told him he was going to die. This was before Edmond Stapleton stole a Garda 4x4 which he drove down a crowded pedestrian street in Cork city before almost hitting an aircraft carrying passengers at Cork Airport.
Stapleton Trial: Court Hears Garda Feared For His Life
A court has heard how garda Michael Bohane feared for his life when a man put a knife to his throat and told him he was going to die. This was before Edmond Stapleton stole a Garda 4x4 which he drove down a crowded pedestrian street in Cork city before almost hitting an aircraft carrying passengers at Cork Airport.
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Ireland WeatherToday:Gale, coastal severe gale, northwest winds ease from late afternoon. Scattered showers will fall as snow over the hills at first, becoming isolated from mid-afternoon. Maximum temperature 7 °C.Tonight:Showers, scattered in the evening, will clear by midnight leaving the night dry with clear spells. Cloud will spread east towards morning. Minimum temperature 2 °C.
