Aer Rianta unions may seek stake in terminal

Unions at Aer Rianta may seek a shareholding in the private terminal planned for Dublin Airport by aviation company Omega Air, it has emerged.

The idea is among proposals to be explored in coming days between the sides, said sources. It is understood unions are considering what are described as "unique partnership arrangements" with the Omega-led consortium.

Yesterday, Mr Ulick McEvaddy, who owns Omega Air with his brother Desmond, indicated he was also prepared to consider Aer Rianta participating in the project.

He was speaking after meeting the Aer Rianta union leadership for the first time, with both sides expressing satisfaction with the discussions. In exchange for some kind of participation in the venture, unions might drop their objections to the McEvaddy plan.

Further contact is expected next week and the idea of worker participation is on the agenda. However sources said it was at an "exploratory" stage.

The McEvaddy brothers have also indicated they are prepared to work with Aer Rianta management in the venture.

Mr Ulick McEvaddy told The Irish Times that Aer Rianta could take out a 20-year bond with Omega to finance the project. He said the bond option or some other "financial instrument" might make it possible for Aer Rianta to keep the investment off its balance sheet.

He said another option might be for Aer Rianta to tender to manage the facility, although the support of the Minister for Transport, Mr Brennan, would be needed for all these initiatives.

Omega is part of the Dublin Airport Terminal 2 Limited consortium, which also includes builder Mr Gerry Gannon. The McEvaddys have got provisional approval from Anglo Irish Bank for a €450 million syndicated loan to build the terminal. Airport management company Serco has told the McEvaddys it is prepared to manage the airport.

Mr Dermot O'Loughlin, from SIPTU's civil aviation branch at Dublin Airport, said unions were prepared to take up Mr McEvaddy's offer of further dialogue. "If the future discussions are anything as good as today's, then I am positive significant progress can be made."

Asked would the unions back the McEvaddy proposal, Mr O'Loughlin said that was up to union members. However, he said the unions would not spurn any initiatives without considering them in detail.

Mr O'Loughlin said Mr McEvaddy had invited the unions to discuss Omega's plans and frank and open discussions had taken place.

"We are quite prepared to negotiate and see if we can find an acceptable position to both sides," he said.

Mr McEvaddy said he had no "ideological hang up" about working with Aer Rianta.

He said he has assured the unions he would not be running a "yellow pack" operation at the terminal.