Amid all the gloom on the jobs front, comes a sliver of good news from Setanta Sports in Dublin.
About 40 junior staff were told this week that the pay cut they agreed to take around the time of its rescue last summer by concert promoter Denis Desmond and founders Michael O’Rourke and Leonard Ryan is to be reinstated.
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Documents just filed for NTR- owned waste group Greenstar show that it secured a term loan of €50 million from Bank of Ireland to fund its recent acquisition of Veolia Environmental Services (Ireland) Ltd.
This money was also used to pay a loan of €7 million to Bioverda Methane Ireland Ltd, a related company, so it, in turn, could repay a loan to AIB. Greenstar also secured a credit facility of €70 million to fund landfill expenditure.
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The Dublin Airport Authority’s decision to postpone the second runway at Dublin airport has forced the Irish Aviation Authority to shelve its own plans to build an 85m tall control tower. This will cost the authority €50 million.
“We’d like to see the second runway go ahead as soon as possible because we believe it would be good from an employment perspective and the traffic will pick up again, but it’s the call of the DAA,” authority chief Eamonn Brennan said.
“We don’t see it happening until at least 2015.”
