Dáil Éireann debate -
Tuesday, 25 Feb 1992

Vol. 416 No. 2

Richard Bruton

Question:

38 Mr. R. Bruton asked the Minister for Tourism, Transport and Communications if she has received any projected capital requirement from Aer Lingus in terms of its capital requirements for the remainder of this decade; if the figures in the order of £700 million have been verified; if she has any proposals to change the shareholding ownership and structure in Aer Lingus; and if she will make a statement on the matter.

Written Answers. - Aer Lingus Funding.

Ivan Yates

Question:

127 Mr. Yates asked the Minister for Tourism, Transport and Communications if she will confirm that Aer Lingus is seeking an injection of capital from the Government arising out of the latest annual accounts; and, if so, if she will outline the amount being sought and the circumstances relating to such a request.

Minister for Tourism, Transport and Communications (Mrs. Geoghegan-Quinn)

I propose to take Questions Nos. 38 and 127 together.

The Aer Lingus Board made a submission to my predecessor recently, outlining capital expenditure and financing proposals over the next five years. I will be examining these proposals carefully in the coming weeks and they will be the subject of further detailed discussion with Aer Lingus before being finalised.

While it would be inappropriate for me to discuss details of Aer Lingus proposals, I can confirm that they include a request for an Exchequer equity injection towards the middle of the decade. Without wishing to pre-empt consideration of the proposals, I must point out at this stage that the condition of the public finances is such that it is most unlikely that equity funds will be available.

I have no proposals before me to change the shareholding ownership and structure of Aer Lingus at the present time. I am aware, however, that Aer Lingus are looking at various alternative group structures which may be more appropriate to their present day needs. I await a formal proposal from the company in the matter.