O'Leary Would pay €350m to buy a terminal in Dublin.
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O'Leary Would pay €350m to buy a terminal in Dublin.
O'Leary offers €350m to buy a terminal at Dublin Airport - Irish, Business - Independent.ie
He would even by T2 after all the giving out about it.
He would even by T2 after all the giving out about it.
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I seen this today, but would we like to see mol have the monopoly on both aer lingus and ryanair and a large stake in Dublin airport... No. I'm personally not a fan of selling of state assets either. Yes it'd get us through now, but what happens during the next recession in 20-30 years time? What do you sell then?
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O'Leary would buy the terminal as Michael O'Leary himself or on behalf of Ryanair? It's a big difference to me.
Anyway, to drink some beer one does not have to own an entire brewery, they say.
Anyway, to drink some beer one does not have to own an entire brewery, they say.
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He would be buying it for Ryanair if the following is to go by:
The low-fares airline will have a €3.8bn cash pile at the end of the year, analysts say, meaning it could easily afford to buy a terminal.
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Dublin Airport would be regarded as a key strategic state asset and is very unlightly to be sold. Many people are opposed to Dublin Airport being privatized. Cork and Shannon will most lightly be sold off in time.
Ryanair will never be able to take over Aer lingus because of competition rules let alone being allowed to own a terminal at a capital city airport.
If MOL had his facts right he would know that T2 didn't cost 1.2billion to build. It cost 600million.
Its very hypocritical of MOL to say break up BAA/DAA monopoly when he would be creating one of his own with Aer Lingus, Ryanair and own a Terminal in Dublin.
As said above its MOL talking a load of Bull****
Ryanair will never be able to take over Aer lingus because of competition rules let alone being allowed to own a terminal at a capital city airport.
If MOL had his facts right he would know that T2 didn't cost 1.2billion to build. It cost 600million.
Its very hypocritical of MOL to say break up BAA/DAA monopoly when he would be creating one of his own with Aer Lingus, Ryanair and own a Terminal in Dublin.
As said above its MOL talking a load of Bull****
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But the EU/IMF/ECB are calling the shots now, they have told the gov that they have to sell off state assets. The reason Greece nearly went down the tubes is because they wer'nt prepared to sell state assets.
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Without getting to political, members or the current government have said an attempt to sell it off to be resisted. Dublin airport will not be sold but Cork and Shannon most lightly will.
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Look at it this way the DAA has a death of 1.2 billion and if Dublin Airport is sold the new owners will have to pay off the death and the Gov have said it will be hard to sell Dublin Airport because of its death. So the EU/IMF can demand for it to be sold but they can't tell somebody to buy it. Who would pay 7 or 800million for the airport and then take on the death of 1.2 billion.
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I can't ever see Dublin being sold as a whole unit, but parts of it quite easily could be. The IMF/EU won't give a crap if there is money to be got from it and as pointed out they are running the show these days. Would bring down the total debt or death as Jamie2k9 calls it.
I have always thought a competing terminal would be no harm to be honest...not sure O'Leary is the man but it would definitely break up the hold the DAA have over everything.
I have always thought a competing terminal would be no harm to be honest...not sure O'Leary is the man but it would definitely break up the hold the DAA have over everything.
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I think it will be sold all together or not at all. It wont be top of the list of state assets to go and I don't think it will be sold at all. The Gov don't have to sell all state assets. The airport would make far less than many other state assets.
We agree on one thing O'Leary is not the man.
We agree on one thing O'Leary is not the man.
So the negotiations are starting then..............interesting
Dublin an airport with 1.2 billion in debt with less than 20 million passengers a year
Cork spent €200 million on an airport with less than 3 million passengers...
FR spends €350-500 million on the terminal makes sense because in effect instead of the money being used to line DAA pockets it pays off the loans used to buy it.
No idea how much FR pay DAA in fees per year and other charges but reckon it would pay back in 7 years or less for FR.
FR aren't to blame for DAA mismanagement and as for the cost of T2 well the write off of previous investment brings the cost close to €1.2 billion.
Dublin an airport with 1.2 billion in debt with less than 20 million passengers a year
Cork spent €200 million on an airport with less than 3 million passengers...
FR spends €350-500 million on the terminal makes sense because in effect instead of the money being used to line DAA pockets it pays off the loans used to buy it.
No idea how much FR pay DAA in fees per year and other charges but reckon it would pay back in 7 years or less for FR.
FR aren't to blame for DAA mismanagement and as for the cost of T2 well the write off of previous investment brings the cost close to €1.2 billion.
We agree on one thing O'Leary is not the man.
Airport owners keep investing because they want to charge more where a FR would do the opposite.
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So you would prefer it be sold to some hedge fund whose only aim is to make as much as possible out of it rather than pretty much the most successful Irish company over the last 20 years who hates the politicians with a passion.....
Airport owners keep investing because they want to charge more where a FR would do the opposite
Airport owners keep investing because they want to charge more where a FR would do the opposite
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What is this death Jamie2k9 keeps talking about?
The issue of selling state assets is quite simple and has been played out many times in many countries. Every politician agrees that assets need to be sold to help reduce the government debt but once an asset is suggested, they say it should not be that one - the principle is agreed but not the individual case - no politician wants to be unpopular or to make hard decisions.
However, British Airways was sold and has gone from strenght to strenght. The Brisit Airport Authroity was sold and has made major investments since (and has sold Gatwick on with Stansted to follow). BFS was sold to staff etc. and then sold on again.
So selling assets has worked. The issue with airlines is EU competition rules - FR owning EI gives it too big a share of the Irish market. Selling individual terminals does not seem to have been tried much
The issue of selling state assets is quite simple and has been played out many times in many countries. Every politician agrees that assets need to be sold to help reduce the government debt but once an asset is suggested, they say it should not be that one - the principle is agreed but not the individual case - no politician wants to be unpopular or to make hard decisions.
However, British Airways was sold and has gone from strenght to strenght. The Brisit Airport Authroity was sold and has made major investments since (and has sold Gatwick on with Stansted to follow). BFS was sold to staff etc. and then sold on again.
So selling assets has worked. The issue with airlines is EU competition rules - FR owning EI gives it too big a share of the Irish market. Selling individual terminals does not seem to have been tried much
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Look to Tiger airways in Australia - I remember seeing their own terminal at Gold Coast Airport they had bought off the airport and it did indeed, lack ongoing investment and turned in to a bit of mess, probably still is. I hate flying merely due to the fact I think most airports have an awful experience to offer, imagine Oleary terminal and how tacky it would become, ala Ryanair. If the Ryanair inflight interior is anything to go by, I'd sooner use EI in to Dublin to the main terminal than FR to Oleary terminal.
