Views of Peter J. M. Taylor and Donal Curtin
111. Peter J. M. Taylor and Donal Curtin agree with the Commission in respect of the use of the opportunity cost methodology used to value airfield land, and with the values thus obtained, but do not accept the methodology used to value specialised assets. Their preferred approach is to value specialised assets using optimised depreciated replacement cost (ODRC). Using this approach alters the calculations of returns for the airports, and leads them to conclude that the likely net benefits to acquirers of control on AIAL are not significant. Consequently, they are not satisfied that control of airfield activities supplied by AIAL is necessary or desirable in the interests of acquirers, and do not consider AIAL, WIAL or CIAL may be controlled. Consequently, they have not considered whether market conditions are such that the Minister should recommend control. They express no view on the airfield activities that need to be controlled. Otherwise, they agree with the report.
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