Wednesday, 17 August 2011

Michael O'Leary keen to buy Dublin Airport terminal

Ryanair chief Michael O'Leary has publicly admitted that he would jump at the chance to buy one of the terminals at Dublin Airport. The entrepreneur has said that he would pay €350m for either terminal.

"I'd buy one of the terminals tomorrow, no problem. We'd happily buy the old terminal. Or we'd buy the new one but we wouldn't pay €1.2bn for it, which is what it cost to build. You'd probably get €350 million each for them," O’Leary said.

Dublin Airport is said to have debts of €1.2bn and the cash injection could be attracted to the DAA. The DAA has also recently been downgraded by Standar & Poor which means that they will pay more on loans that they receive.

O'Leary sees nothing wrong with the idea and when interviewed by the Sunday Independent said: "It doesn't matter who buys the remaining terminal as long as they're different owners, so that there isn't a monopoly”.

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