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Dáil Éireann debate -
Thursday, 6 Mar 1969

Vol. 238 No. 16

Ceisteanna—Questions. Oral Answers. - Aer Lingus Loan.

40.

asked the Minister for Finance if sanction by his Department was necessary in respect of the recent £4 million loan obtained by Aer Lingus from the Westminster Foreign Bank Limited; and the rate of interest per annum payable on this loan.

Consent to certain proposed borrowings by Aerlínte from the Westminster Foreign Bank Limited has been given by me as Minister for Finance, after consultation with the Minister for Transport and Power, under section 11 of the Air Companies Act, 1966.

The rate of interest will be related to the Euro-dollar market rate current on the date of borrowing. No part of the loan has, however, as yet been drawn.

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