Dáil Éireann - Volume 405 - 20 February, 1991

Written Answers. - Investment-Airport Grants.

138. Mr. Yates asked the Minister for Tourism, Transport and Communications if he will outline the rate of return on investment and the total State investment to date in the following airports: (a) Dublin, (b) Shannon, (c) Cork and (d) Knock; and if he will outline the method of calculating depreciation costs in our international and other airports.

139. Mr. Yates asked the Minister for Tourism, Transport and Communications if he will outline the total level of Exchequer grants for each (a) international, (b) regional and (c) local airport throughout the State to date in (1) actual financial terms and (2) current 1990 monetary equivalent terms.

Minister for Tourism, Transport and Communications (Mr. S. Brennan): I propose to take Questions Nos. 138 and 139 together.

The information, in so far as it is available, is as follows:

As regards State airports, total investment to date in Dublin, Cork and Shannon Airports is £129 million of which £63 million was provided by the Exchequer and £66 million was funded by Aer Rianta out of their own resources. A breakdown by airport on this investment is not readily available. The rate of return on [1037] investment at State Airports is 18 per cent.

Depreciation at State airports is calculated to write off the cost of fixed assets over their estimated useful lives on a straight line basis at the following annual rates: buildings 2%-5%; runways and lighting 3%-10% and plant and equipment 5%-33.3%

Exchequer grants paid to regional and local airports are as follows: Connaught £9,858,000; Kerry £1,319,979; Galway £1,187,500; Carrickfin £375,000; Waterford £1,082,500; Sligo 374,250; and Abbeyshrule £80,839.

I do not have information on the depreciation methods or rates of return on investment for regional and local airports, as these are owned and operated by private companies.