A new report drawn up for the Cork Airport Authority has indicated that the authority would be able to take between €50m and €60m of the airport's €220m debt.
The €220m debt is principally due to the construction of a new terminal and ancillary facilities at the airport, but a row over who should pay that debt is delaying Government plans to create independent and competing airport authorities in Dublin, Cork and Shannon.
In July 2003 when the then Transport Minister Seamus Brennan announced plans to break up Aer Rianta, he promised that the Cork Airport Authority would commence business debt-free.
However, the Government changed its position and earlier this year the current Transport Minister Martin Cullen argued that under company law Cork's independence could be delayed by years if the Dublin Airport Authority was forced to pay all the debt.
He said Cork could chose to become independent now by assuming a debt of €100m or wait a number of years until Dublin Airport Authority's financial position improved.
A compromise put forward by Taoiseach Bertie Ahern, which would see Cork Airport Authority paying €100m of the debt and Dublin Airport Authority assuming responsibility for the remainder, failed to break the deadlock and the stand-off has continued.
In March, Cork Airport Authority commissioned consultants to draw up a report on the debt and, RTE understands, that report has indicated that the authority would be able to take on between €50 and €60m of the debt.
It's understood that the report has been circulated to members of the airport board but has not yet been considered.
A spokeswoman for Cork Airport Authority said no comment would be made ahead of a meeting of the board to consider the report.
The next meeting of the board is due to take place at the end of the month.
