Dáil Éireann debate -
Tuesday, 5 Nov 1991

Vol. 412 No. 1

Written Answers. - Aer Lingus Holdings Query.

Pat Lee

Question:

176 Dr. Lee asked the Minister for Tourism, Transport and Communications if he will outline (1) the name of the Aer Lingus Holdings site in Tenerife (2) the number of private apartments built on the site in Tenerife and the numbers sold and unsold (3) the square metres of commercial site which are built in Tenerife and the number sold and still unsold and (4) the percentage of these properties belonging to Aer Lingus Holdings in Tenerife.

Minister for Tourism, Transport and Communications (Mr. S. Brennan)

Aer Lingus has a property interest in Tenerife through Aer Lingus Espana Ltd., a property development and hotel operating company established in 1973 in which Aer Lingus has a 70 per cent share-holding.

The name of the site in Tenerife is Puerto Santiago. A total of 279 apartments have been built on the site of which 55 remain unsold.

A total of 5,000 sq metres approximately have been developed into 55 commercial units. Aer Lingus Espana Ltd. were originally responsible for 20 of these units, of which one remains unsold.

The pre-sale ownership interest of Aer Lingus Espana Ltd. amounted to approximately 72 per cent of the total number of apartments developed and 36 per cent of the commercial units.