Dublin Airport Authority denies due diligence will lead to sale

Dermot Davitt

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Decision on future of overseas arm Aer Rianta International will come at the end of April

The Dublin Airport Authority, which took over the running of Aer Rianta operations in October, has ordered due diligence to be undertaken on all parts of its business, including overseas assets such as Aer Rianta International (ARI). PriceWaterhouseCoopers has been employed to do the work.

But the airports group denied that this would lead to a sale of ARI or any other assets. A spokesman for Dublin Airport Authority told RavenFox.com: "It's highly unusual that you would have an entire new board appointed to a semi-state body. It's as if the board was taking over the company as a new purchase and due diligence would be standard procedure in the case of a new purchase. This exercise is being undertaken so the board can get an up-to-date analysis of all company structures, processes, assets and liabilities. It is not to prepare for the sale of any assets."

The company, formerly Aer Rianta, will be split into three separate airport authorities serving Dublin, Cork and Shannon airports later this year, as long as business plans are approved by the minister for transport.

The Dublin Airport Authority spokesman said that a decision on the future of ARI and other assets such as Great Southern Hotels would be taken once the new business plans for the three airports are completed.

He said: "The legislation which split Aer Rianta into three companies didn't refer to ARI, and so far there is no formal position on the future of that division. That will emerge once the three boards have decided how to proceed. The formal separation of Dublin, Cork and Shannon airports takes place at the end of April."