CORK - 5
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Cork Airport debt issue almost settled, 19/02/07:
An ultimate resolution to the debt issue in Cork Airport is, it seems, finally being agreed upon.
The Airport had been saddled with a €220 million debt after Martin Cullen, the minister for transport went back on Minister Séamus Brennan's commitment in 2003 that the Cork Airport Authority (CAA) would start off debt free and all debt would be absorbed into the Dublin Airport Authority (DAA).
The issue of who would pay the cost of Cork's new Terminal, Multi-storey car park and improved road network had been dragging on for over a year.
But, it seems with elections looming, the government has ordered the Dublin Airport Authority to pay €120 million of the debt, leaving the CAA to clear the remaining €100 million. The airport has begun redesigning its business plan to eradicate this debt.
This is still not a satisfactory resolution in the eyes of many after Séamus Brennan's original pledge for a debt free Cork Airport Authority, and it is perceived that the move is designed to soften the blow coming up to the elections.
An ultimate resolution to the debt issue in Cork Airport is, it seems, finally being agreed upon.
The Airport had been saddled with a €220 million debt after Martin Cullen, the minister for transport went back on Minister Séamus Brennan's commitment in 2003 that the Cork Airport Authority (CAA) would start off debt free and all debt would be absorbed into the Dublin Airport Authority (DAA).
The issue of who would pay the cost of Cork's new Terminal, Multi-storey car park and improved road network had been dragging on for over a year.
But, it seems with elections looming, the government has ordered the Dublin Airport Authority to pay €120 million of the debt, leaving the CAA to clear the remaining €100 million. The airport has begun redesigning its business plan to eradicate this debt.
This is still not a satisfactory resolution in the eyes of many after Séamus Brennan's original pledge for a debt free Cork Airport Authority, and it is perceived that the move is designed to soften the blow coming up to the elections.
Last edited by Titan Airways; 19th Feb 2007 at 22:11.
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Doesn't the DAA get enough from its Duty free abroad, the sale of the Great Southern Hotel et al. Was in Dubai recently and they have a massive Duty free, now doesn't the DAA have a big stake there and other large Duty Free's abroad?? hmmm Shouldnt Cork get a slice of this wealth at all?? It's a farce from start to finish, Cork should get a debt free airport and also the DAA should keep its nose out its affairs permanently so that it can operate independantly. There is far too much politics involved in the running of Cork Airport. Debt free is the only way to go and to get out from the clutches of the DAA completely!
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Yes, the Irish government's proposed half assed attempt to get the super profitable Dublin Airport Authority to shoulder just over half the massive Euro 220 million Cork Airport debt is intolerable. Not only the airport but all of Cork must now stand shoulder to shoulder against this farce and stitch up which if goes through will quite likely kill off Cork Airport for well into the future. Do not forget how well organised the Shannon lobby has been down the years in protecting their interests like with the stopover so take a lesson out of their book and make yourselves heard with the politicians in this general election year. The local Cork government TDs (MPs) in Fianna Fail and the Progressive Democrats must not be left off the hook and must be asked for their opinion on how a Cork Airport with a proposed Euro 100 million debt can put together any kind of credible business plan for the years ahead. In such circumstances it is all but impossible to see how the situation can work out well for Cork Airport.
A Cork Airport candidate for the General Election must not yet be ruled out as a possibility due to the gravity of what all of Cork and not just the airport may now be facing.
Aerfort Chorcai - Tabhar aire! (Cork Airport - Be on guard!)
A Cork Airport candidate for the General Election must not yet be ruled out as a possibility due to the gravity of what all of Cork and not just the airport may now be facing.
Aerfort Chorcai - Tabhar aire! (Cork Airport - Be on guard!)
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The Cork Airport debt issue has at last fully made the national broadcast media today with the topic discussed hotly and at length on the lunchtime news programme on RTE Radio 1. Cork Senator John Minihane (not TD) of the government Progressive Democrats party was scathing in his criticism of his Fianna Fail colleagues's proposed solution to the DAA of splitting the airport debt's close to down the middle with Cork bearing Euro 100 million Euro of the Euro 220 million debt.
Earlier in the day the topic was also well covered on Cork local radio, 96FM. What a contradiction there was between two Cork government deputies, Mininster for Enterprise, Mr Micheal Mairtin, TD fairly meakly supporting the Government approach and some minutes later fellow Fianna Fail depty, Mr Noel O'Flynn, TD arguing proudly enough for a strong Cork Airport and even wanting the remaining airbridges to be put in without any more delay. I had to warm to that suggestion!
As can be predicted there has been little word today from Mr Cullen, the transport Minister and nothing either from the big shots at the Cork Airport Authority nor the Dublin Airport Authority. There has been one sort of sensation thas has emerged today in that it seems the DAA are keen on selling around 30 acres of land near runway 25 at Cork. The thing about it is that they want to do it over even the heads of the Cork Airport Authority without their consent to the deal! How's that for sneakiness? A form of asseting stripping by any other name?
If the DAA feel the need to asset strip Cork Airport so much why dont they sell off the area around runway 17, get their millions of Euro, and then let Cork put in another 4000 feet on runway 25. At least then there might be a chance of a decent length runway and maybe better chance of installing a CATIII ILS for low viz operations.
Earlier in the day the topic was also well covered on Cork local radio, 96FM. What a contradiction there was between two Cork government deputies, Mininster for Enterprise, Mr Micheal Mairtin, TD fairly meakly supporting the Government approach and some minutes later fellow Fianna Fail depty, Mr Noel O'Flynn, TD arguing proudly enough for a strong Cork Airport and even wanting the remaining airbridges to be put in without any more delay. I had to warm to that suggestion!
As can be predicted there has been little word today from Mr Cullen, the transport Minister and nothing either from the big shots at the Cork Airport Authority nor the Dublin Airport Authority. There has been one sort of sensation thas has emerged today in that it seems the DAA are keen on selling around 30 acres of land near runway 25 at Cork. The thing about it is that they want to do it over even the heads of the Cork Airport Authority without their consent to the deal! How's that for sneakiness? A form of asseting stripping by any other name?
If the DAA feel the need to asset strip Cork Airport so much why dont they sell off the area around runway 17, get their millions of Euro, and then let Cork put in another 4000 feet on runway 25. At least then there might be a chance of a decent length runway and maybe better chance of installing a CATIII ILS for low viz operations.
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Air Southwest to Newquay.
NEW ROUTE:
Cork to Newquay
with Air southwest.
The new flights start on May 4 and tickets go on sale today. They will operate three days a week on Monday, Friday and Sunday throughout May, with a Wednesday flight being introduced from June.
Flights leave Newquay at 11.20am and arrive in Cork at 12.10pm, giving a flight time of less than an hour. Flights leave Cork at 12.55 and arrive in Newquay at 13.45.
Cork to Newquay
with Air southwest.
The new flights start on May 4 and tickets go on sale today. They will operate three days a week on Monday, Friday and Sunday throughout May, with a Wednesday flight being introduced from June.
Flights leave Newquay at 11.20am and arrive in Cork at 12.10pm, giving a flight time of less than an hour. Flights leave Cork at 12.55 and arrive in Newquay at 13.45.
Last edited by Hawk; 20th Feb 2007 at 20:03. Reason: advertising
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Are the DAA serious? Presumably they are referring to the land ear-marked for the cargo apron at the airport. They should go take a running jump for themselves.
They'd have a battle on their hands if they wanted to extend runway 25. There are roads at either end, and closing the back one would mean I'd have to get up 10mins earlier in the morning
They'd have a battle on their hands if they wanted to extend runway 25. There are roads at either end, and closing the back one would mean I'd have to get up 10mins earlier in the morning
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The board of the Cork Airport Authority should resign over the attempt to force the terminal debt on the CAA and also over the attempt by the DAA to sell the land bank by runway 25 (thus preventing any future runway extension). I hope the Cork electorate will remember this 'stitch up' in the general election!!!
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Cork Debt
This is outrageous. Not only are they landing us with a €100 million debt, they are selling 25 acres of valuable land which was earmarked for a cargo village. They should easily get €50-60million for the land, or even more if there is a bidding war. Shannon got to be debt free and keep it's much larger land banks. Dublin got the Great Southern Hotels chain, the stakes in the foreign airports as well as Aer Rianta's overseas duty free business. What has Cork got, a huge debt that will probably take decades to pay off, and no chance to improve profitability since Dublin have sold off the remaining empty land from underneath them and pocketed all the cash. If I were the CAA, I would try and get a high court injunction preventing them from selling the land.
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The news about Air Southwest is very welcome news for a Cork Airport very much in the news at the moment. The days chosen by Airsouthwest - Mondays, Fridays, Sundays and with with Wednesdays to follow later are great. Aer Lingus would be wise to take note with their new token Cork - Manchester service - how foolish not having a Friday flight and yet on other days of the week there will be up to three Manchester flights with two from bmi baby and the Aer Lingus service.
If a tidy little airline like Air Southwest can grasp the significance of a Friday flight for Cork beats me why EI cannot do the same.
Cork Airport is very much in the media again today with Minister Cullen on the offensive saying that an independant Cork Airport is getting the sale of the century having a debt of only Euro 100 million! The government and DAA spindoctors are working hard to keep a leash on Cork at all costs. Our Cabient Minister from Cork, Mr Micheal Martin, is also having a go saying that the chairman of the Cork Airport Authority, Mr Joe Gantley supports the government's plan on how to deal with the airport debt and there is also supposed to be some confusion on whether the CAA have yet sent a letter to the Governement rejecting it's proposal to saddle Cork with Euro 100 million debt as had been reported in the media yesterday.
Minister Cullen is supposed to be announcing a big regional airports package for Ireland today and there is talk that Waterford Airport are to receive funds to widen and lengthen their runway. How genorously sporting of him! Pity Cork did not have a Mininster like Mr Cullen!
Instead Cork and Cork Airport gets Mininster Micheal Martin!
If a tidy little airline like Air Southwest can grasp the significance of a Friday flight for Cork beats me why EI cannot do the same.
Cork Airport is very much in the media again today with Minister Cullen on the offensive saying that an independant Cork Airport is getting the sale of the century having a debt of only Euro 100 million! The government and DAA spindoctors are working hard to keep a leash on Cork at all costs. Our Cabient Minister from Cork, Mr Micheal Martin, is also having a go saying that the chairman of the Cork Airport Authority, Mr Joe Gantley supports the government's plan on how to deal with the airport debt and there is also supposed to be some confusion on whether the CAA have yet sent a letter to the Governement rejecting it's proposal to saddle Cork with Euro 100 million debt as had been reported in the media yesterday.
Minister Cullen is supposed to be announcing a big regional airports package for Ireland today and there is talk that Waterford Airport are to receive funds to widen and lengthen their runway. How genorously sporting of him! Pity Cork did not have a Mininster like Mr Cullen!
Instead Cork and Cork Airport gets Mininster Micheal Martin!
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Knock today received a grant of €27 million from the venerable Martin Cullen "under the new Capital Expenditure Grant Scheme for Regional Airports". How nice of him.
Am I allowed to link to a full story? If so I'll put up the link.
There's rumour alright that bmi Baby will increase to twice daily for, I think, 2 days in the week.
Am I allowed to link to a full story? If so I'll put up the link.
There's rumour alright that bmi Baby will increase to twice daily for, I think, 2 days in the week.
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Ya Tom you're allowed post a link to and/or selectively quote from a news article that is not advertising.
Regional airports get €100 million windfall (if I've done my sums right):
http://www.rte.ie/business/2007/0221/airports.html
Regional airports get €100 million windfall (if I've done my sums right):
http://www.rte.ie/business/2007/0221/airports.html
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To that end, here's the link to the Knock article: http://breakingnews.iol.ie/news/stor...94&p=zyyx94xxx
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Now lads, ye wouldn't begrudge Knock and Waterford a few million ?
For years Waterford had to put up with the crumbs left over from the other airports. About time a Minister for Transport went a little way towards evening things up !
For years Waterford had to put up with the crumbs left over from the other airports. About time a Minister for Transport went a little way towards evening things up !
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Good point NABLAG. I would much rather be diverted to Waterford than Shannon . Interestingly, Waterford has the potential to do a lot of damage to ORK going forward once they have a half decent runway. If FR don't get their way with the CAA management, then they could always operate flights from Suirside. Not hampered by debt, overstaffing, or dodgy weather, and within striking distance of a large populous hinterland, Waterford could fit in nicely with FR's plans. They could even have it renamed Ireland South or Waterford-Cork Airport. Cork folk would, I imagine, be much more receptive to traveling to Waterford than Shannon.