asked the Minister for Transport and Power the annual amount payable to the Exchequer if interest at current rates was paid on money advanced by the Exchequer or other public sources to Aerlínte, Aer Rianta and Aer Lingus.
Ceisteanna—Questions. Oral Answers. - Interest on Advances to Air Companies.
42.
Capital is not issued direct from the Exchequer to Aerlínte or Aer Lingus but is issued to Aer Rianta which in turn makes capital issues to the operating companies. The total amount of capital issued to Aer Rianta as at 31st March, 1963, was £10,695,541 of which £6,921,477 has been invested in Aerlínte and £3,447,794 in Aer Lingus, the balance of £3,26,270 being used for investment in Irish and Inter-continental Hotels Limited and for the capital purposes of Aer Rianta itself. Assuming interest at the current Exchequer lending rate of 6 per cent, the annual amount of interest payable by Aerlínte, Aer Lingus and Aer Rianta on these capital investments would be £415,288, £206,868 and £19,576, respectively.
Could the Minister say have these payments in respect of interest actually been made?
They have not been made. As I indicated in my speech on the Estimate, they have not been paid.
No payments have been made by any of these parties?
No.