IWAK CEO Joe Gilmore gave a radio interview today, some interesting points and figures:
- Knock not happy to protest, Government not engaging with proposals
- Problem not Shannon, welcome support for another airport in the region
- Problem is lack of balanced aviation policy. "Shannon decision cart before the horse"
- "Gov policy instruments directed at replacing Knock"
- Ignored Booze report warning on need for strategy before separating DAA airports
- Worried about cumulative effect of financial package undermining fair competition
(Debt write-off, Working capital, Land-bank rents, further Budget tax incentives to come tomorrow)
He gave some details on Knock status:
- Run by a trust with stated aim of economic development for the region
- Seamus Brennan signed objectives in 1991 as a statutory community trust
- "More state owned than the DAA"
- Trust sole shareholder, all income goes back to airport
- 7 board members voluntary, receive no fees bar 1, all profits reinvested
NOC breaking even, development fee earning €3m pa, "would close without it"
€15m state capital investment in last 5 years, debt €10m
€350,000 operational funding in 2011 (cutting all OPEX 2014)