The Aer Rianta report on the future strategic direction of the Aer Rianta group has been referred to a team of consultants appointed by myself and the Minister for Finance, Deputy McCreevy. Those consultants will examine and evaluate the full range of recommendations made by the board of Aer Rianta to me. It would not be appropriate for me at this point to speculate on a possible response to the Aer Rianta report until it has done its work.
In that report, which I circulated to the House, Aer Rianta contends that the retention of Dublin, Cork and Shannon airports as one group of airports is central to its vision for their strategic future. This matter will be considered as part of our analysis of what they have said.
The figure of £350 million, to which the Deputy refers, relates to the capital expenditure proposals put forward by Aer Rianta in its report and covering all three State airports for the three year period 1999-2001. These proposals are a development on a six year programme first approved by the Deputy's party when in Government in 1996 to cover the period to 2001. That programme was costed at £220 million in 1996. Two years later in 1998, this Government, in response to the continuing high growth rates of traffic, increased the amount to £308 million. The latest proposals contain a significant element relating to the completion of major capacity enhancing projects. At Dublin and Shannon, large elements of the investment programme relate to major terminal expansions and at Cork Airport, it relates mostly to improvements to the runway.
When it has formulated its proposals, Aer Rianta will, as always, engage in consultation with its airline customers. In addition to Aer Rianta's latest proposals, the company also has outline plans for the years beyond that point. The present programme is an expansion of the 1996 programme.
