All three State Airport Authorities are currently working on the production of business plans to cater for their establishment as independent airports under the State Airports Act, 2004. Responsibility for the production of the business plans rests with the authorities. My function, under the Act, is to consider the plans, in conjunction with the Minister for Finance, once they have been submitted.
If Shannon Airport is to develop as a successful and sustainable business, it is clear that one of the issues that must be addressed in its business plan is the airport's very high cost base. Negotiations with the unions at Shannon on the cost cutting changes that would be required to ensure the viability of the airport have been underway for some time now. In this the parties have been helped by the Labour Relations Commission, the Labour Court and the National Implementation Body.
Recently the Labour Relations Commission oversaw an intense round of negotiations between the parties and I understand that it intends to issue its recommendations to all parties later this month.