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"Ireland's Cork Airport 'may be leased to local management'"
Monday, May 11, 2004
Cork Airport 'may be leased to local management’
Ireland Online
A consultants' study has reportedly found that Cork Airport may have to
be leased out to local management rather than established as an
independent entity in competition with Dublin Airport.
Reports this morning said the PriceWaterhouseCoopers study highlighted
the lease plan as a way to avoid depleting the reserves of the new
Dublin Airport authority under the Government’s plans to break up Aer
Rianta.
The study reportedly found that transferring the debts of Cork and
Shannon Airports to the new Dublin Airport company could have serious
implications in the short and medium term.
It also warns that Shannon Airport could lose up to ˆ30m in its first
five years as an independent entity.
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