Vol. 203 No. 11
asked the Minister for Transport and Power if he can state whether there is any air company operating on the North Atlantic route, other than Aerlinte, which does not include in its published accounts the interest on the capital invested in the company.
18.
asked the Minister for Transport and Power if he is aware that there is public misunderstanding concerning the operations of Aerlinte by reason of the failure to publish the fact that no interest is paid on the capital invested in the company and if he will take steps to ensure that in official publications a note will be inserted indicating this fact.
With the permission of the Ceann Comhairle, I propose to take Questions Nos. 17 and 18 together.
There are at least 16 airlines operating on the North Atlantic route and I am not in a position to give information as to the method used by all the companies in preparing their accounts. In so far as capital invested is equity or share capital the question of interest would obviously not arise. I am aware that at least five companies other than Aerlinte do not show dividends on equity capital in their accounts.
I am not aware of any public misunderstanding of the nature referred to by the Deputy. It is evident from the published accounts of Aerlinte taken in conjunction with the Chairman's introduction to the air companies' accounts that no dividend has so far been paid on State capital but profits have been retained for development. The Chairman has assured me that the position will be presented with the greatest clarity in the forthcoming annual report. I made it quite clear in my speech in November last on the Vote for my Department that the air companies have not yet been able to remunerate State capital and I have also referred to the matter in reply to questions in the House and also in speeches made elsewhere.
