asked the Minister for Industry and Commerce if he will state in respect of the past five years (a) the amount of advances paid out of Government funds towards the financing of Shannon Airport, Aer Lingus, C.I.E. and the G.N.R., respectively, and (b) the rates of interest charged on such advances in each case.
Ceisteanna—Questions. Oral Answers. - Financing of Air Services and Transport.
Works at Shannon Airport which is State property are not financed by way of advances. The total amounts of the repayable advances made to C.I.E., and the G.N.R. Board, in the five years ended 31st March, 1957, were £4,920,100 and £1,913,397, respectively. The rates of interest charged on these advances varied from 3¼ per cent. to 5¾ per cent. for C.I.E. and from 4½ per cent. to 5¾ per cent. for the G.N.R. Board. No advances were made to Aer Lingus and no new capital was provided by the Exchequer for investment in the company, during the five years period ended 31st March, 1957. During this period, however, sums totalling £798,540 out of moneys held by the Minister for Finance on behalf of Aer Linte Teo., were advanced interest-free to that company for investment in Aer Lingus.