asked the Minister for Transport and Power if he will state in respect of the jet aircraft Padraig (a) its total purchase price, (b) the amount already paid, (c) the source from which money was provided, (d) the annual debt charge on its cost, (e) its estimated economic life as a trans-Atlantic passenger plane, (f) the estimated annual cost of maintenance and depreciation, (g) the estimated annual number of trans-Atlantic passengers required at current return and single fare charges to meet the cost of interest on capital and the maintenance and depreciation costs of this aircraft, (h) the total cost of the first return service flight and (i) the estimated annual pay of the personnel who are employed to accompany this aircraft on each service flight.
Ceisteanna—Questions. Oral Answers. - Jet Aircraft Pádraig.
The total purchase price of the jet aircraft Pádraig was £1,400,000. This sum has already been provided by the Government by way of investment by the Minister for Finance in Aer Rianta Teoranta. The latter company in turn takes up for cash an equivalent number of shares in Aerlinte Éireann Teoranta. As the capital has been provided by the subscription of shares no provision is made for repayment to the Exchequer.
The remainder of the Question relates to matters of day-to-day administration of the Company which are not within the ambit of my functions and which are normally regarded as confidential by companies engaged in international airline business.
Surely the annual debt charge on the cost and its estimated economic life are not confidential matters?
They may be, in the context of the other replies. It is perfectly obvious that the company could not compete with other air lines operating over the Atlantic if confidential information of this kind were to be given.
Surely the debt charge cannot be confidential?
If the Deputy would be good enough to ask another Question on this, I shall see if I could make a separation.
The Question is divided into several heads. The Minister gave the answer to (a) and explained (b) and (c). When he comes to the debt, he says that the rest is confidential. How can the annual debt charge be confidential?
He said the money was invested in ordinary shares and there is, therefore, no debt charge.
That is to say, if I interpret the Minister correctly, to give any figure in regard to depreciation would be confidential?
Yes.
That is interesting information.