CORK - 5
Join Date: Aug 2000
Location: Cork, Ireland
Posts: 1,625
Likes: 0
Received 0 Likes
on
0 Posts
The fatal Metroliner accident back in February would be contraindicative to 50th anniversary celebrations too. There have been a few widebody movements to mark the year along with a lot of reasonably exotic bizjet visitors.
The DAA's focus is on their new Taj Mahal Airbridge Terminal at Dublin.
Just two hours to the Red Cow Inn and you are nearly there!
The DAA's focus is on their new Taj Mahal Airbridge Terminal at Dublin.
Just two hours to the Red Cow Inn and you are nearly there!
Last edited by Tom the Tenor; 3rd Oct 2011 at 19:07.
Join Date: Apr 2004
Location: Ireland
Posts: 1,455
Likes: 0
Received 0 Likes
on
0 Posts
Cork Airport Authority now in existence over 7 years. Yet many staff at the airport are reporting directly to head office staff in both Dublin and Shannon. What is the point of having a board if it has no power. Can't see this situation being tolerated much longer.
Join Date: Apr 2004
Location: Ireland
Posts: 1,455
Likes: 0
Received 0 Likes
on
0 Posts
A report in today's Irish Examimersays that Transport Minister Leo Varsdkar has appointed an Internatioional Consultant to look at the best option for the future at both Cork and Shannon. It is believed that the option of allowing both airports sustain losses and have them abdorbed by the DAA on an annual basis is no longer sustainable.
It should be pointed out that the losses at Cork are entirely due to the cost of servicing the new terminal.
It should be pointed out that the losses at Cork are entirely due to the cost of servicing the new terminal.
Join Date: Mar 2005
Location: on the road...
Posts: 176
Likes: 0
Received 0 Likes
on
0 Posts
@Ryan2000 - that's absolutely right, the losses are primarily interest (terminal) and depreciation (terminal and not a cash item). Strip out those and it's a very different story.
Join Date: Mar 2005
Location: Ireland nowadays
Posts: 1,440
Likes: 0
Received 0 Likes
on
0 Posts
Unfortunately, you could say the same thing about the entire state.
Strip out interest payments and the balance of payments looks OK.
But the same logic will be applied to Cork Airport as the national budget.
Strip out interest payments and the balance of payments looks OK.
But the same logic will be applied to Cork Airport as the national budget.
Join Date: Apr 2004
Location: Ireland
Posts: 1,455
Likes: 0
Received 0 Likes
on
0 Posts
Article on tonights Cork Evening Echo quotes Minister as saying that Cork is losing €14m per year. He repeats his wish for Cork and Shannon to be separated from the control of the DAA.. It seems to me that part or complete privatisation could be on the way as it's nonsensical to suggest that either of them could function as stand alone state companies. Interesting times lads!
Join Date: Mar 2005
Location: Ireland nowadays
Posts: 1,440
Likes: 0
Received 0 Likes
on
0 Posts
I can't quite see the reasoning though. Who will want to take on Shannon with its losses?
And while Cork may be making an operating profit, any private operator will only touch it if the debt is left behind. So, the DAA still gets saddled with the debt, but loses the potential income stream that will help pay for it.
If it is done, I'd prefer that the government retain ownership of the airfield, but just sell the terminal buildings, car parks etc. or even just make them available on a 30-50 year lease.
And while Cork may be making an operating profit, any private operator will only touch it if the debt is left behind. So, the DAA still gets saddled with the debt, but loses the potential income stream that will help pay for it.
If it is done, I'd prefer that the government retain ownership of the airfield, but just sell the terminal buildings, car parks etc. or even just make them available on a 30-50 year lease.
Join Date: Mar 2005
Location: Ireland nowadays
Posts: 1,440
Likes: 0
Received 0 Likes
on
0 Posts
My understanding of operationally profitable is that it is taking out the interest (c. 8 million) and depreciation of fixed assets (presumably around 6 million), but doesn't included the capital repayments anyway, so the term doesn't matter.
I haven't seen published accounts, so I don't know if the depreciation includes exceptional charges to take account of the general reduction in Irish property values.
I haven't seen published accounts, so I don't know if the depreciation includes exceptional charges to take account of the general reduction in Irish property values.
Join Date: Jun 2008
Location: ireland
Age: 59
Posts: 48
Likes: 0
Received 0 Likes
on
0 Posts
numbers at end august were down 50,000 compared last year , approx -2% so far. Anna aero publishes monthly figures.it surprises me that nobody on here ever refers to them
Join Date: Jun 2010
Location: Dublin
Posts: 2,348
Likes: 0
Received 0 Likes
on
0 Posts
European Airport Traffic Trends | anna.aero
Figures can be seen here. SNN declined in July and August. Will get worse with LGW, CDG and DL JFK lost.
Figures can be seen here. SNN declined in July and August. Will get worse with LGW, CDG and DL JFK lost.