FORMER TRADE union leader Peter Cassells was yesterday given a 24-day extension by Minister for Transport Noel Dempsey to produce his report on how Cork airport's €220 million debt should be carved up.
Mr Cassells was due to produce his report for the Minister yesterday but requested more time.
The Dublin Airport Authority (DAA) and its Cork equivalent are at odds over how the debt should be carved up between them.
The DAA has argued that Cork is sufficiently profitable to carry a debt of €100 million on its books. The DAA continues to have responsibility for Cork airport.
Sources close to the Minister said good progress had been made but more time was needed to resolve the matter.
Mr Cassells is believed to have informed Mr Dempsey that both sides had engaged seriously and had indicated that they wished to find an agreed solution.
The Minister said: "I have agreed to a request for more time and am happy to see that good progress has been made."
In a business plan sent to Mr Dempsey recently, Cork airport is believed to have indicated that it could carry a debt of €50 million to €60 million.
The Government announced plans to separate Cork and Shannon airports from the DAA, formerly known as Aer Rianta, some years ago. The then minister, Séamus Brennan, said Cork and Shannon would be given their commercial freedom on a debt-free basis. The State Airports Act was enacted in 2004, but has yet to take full effect as the separation process has stalled.
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