Also just taking a look at passenger numbers released on anna.
Jan - 142,138 - down 18,160 on Jan 2010
Feb - 132,583 - down 37,741 on Feb 2010
We mustn't forget that the Manx2 incident occurred in February and the airport was closed for 2 full days if I recall correctly (or was it 3??), which undoubtedly affected figures for Feb 2011.
It's hard to see how it could be down to operational losses. However the puzzling decision to operate Cork on a 24 hour basis since the late 90's must also be a huge drain on it's finances particularly as nothing moves for over 6 hours apart from a freighter which lands around 0500.
Yes, as far as I know the loss is primarily caused by having to service the debt from the new terminal. So much for the DAA saying that Cork could easily afford to pay it! Most diversions go to Shannon anyway so it does seem strange having to stay open 24 hours. There are often flights arriving & departing during the early hours of the morning during the summer season, particularly when the charters get going, but there really is no need to have it open 24 hours during the winter.