Still working on the €400m figure here. Was this something that the DAA put out initially; in fairness to them, they do refer to the full cost in their report, although it is hidden in page 30 or so of a 36 plage splurge (on the DAA site).
You can almost see what happens next; the DAA will put a request in to the Regulator for a cost increase, the Regulator will politely say that they need more info and the DAA will throw a hissy fit.
I think, realistically, an international operator would much rather focus on the new Terminal 3, for which Fingal CC has already put plans in place, rather than a design which its competition has already commissioned. Ultimately, the best outcome would be to have a level playing field. The problem with having an independent operator for T2 is that there won't be that level playing field, because the DAA is responsible for airfield maintenance, security, fire services (nearly wrote dire services there - what a freudian slip!
) etc. Why not confine the DAA to the regulatory side of operating an airport and then, the operation of the two terminal could be put out to tender, either individually or (preferably) as a unit; there could then be a competition for the operation of T3 and you would have competition between them; this could be made to work - terminal operators would focus on what they should be doing - planning and building terminals and providing services to the traveller, while touting for new business, while the DAA is focused on its role.