Updated: 09/05/12 : 07:44:58Printable Version
The Government is expected to announce today the separation of Shannon from the Dublin Airport Authority (DAA).
The plan is understood to involve the creation of a new authority for the airport with a 'debt free' position.
A decision on the matter is believed to have been made at Cabinet yesterday following study of a consultants' report furnished to Transport and Tourism Minister Leo Varadkar late last year.
Under the plan expected to be announced by Minister Varadkar later, the mid-west airport would remain in public ownership, possibly with a role for Shannon Development in managing the facility, as the agency's investment roles have been assumed into the IDA and Enterprise Ireland.
It is expected that the Government will write-down or leave Shannon's debt with the DAA. The facility is understood the airport to have been in deficit by €8m last year, and could have long-standing debt totalling €100m.
One of the main options for developing the mid-west airport is 2,000 acres of a land bank that many believe could be used to create a hub for aircraft maintenance.