Vol. 470 No. 6
93 Mr. Callely asked the Minister for Transport, Energy and Communications the current financial position of Team Aer Lingus; the level of financial support, if any, from the Aer Lingus group to Team Aer Lingus; and if he will make a statement on the matter. [19600/96]
TEAM Aer Lingus is in the second year of a five year plan designed to return the company to viability on a phased basis. The company's financial position remains weak in a market where there is 30 per cent overcapacity worldwide.
TEAM continues to be dependent on the Aer Lingus Group for financial support and has received funding of the order of £130 million from the group to date.
I wish to emphasise that the only realistic solution to the major challenges facing TEAM is to fully implement the five year plan. While I acknowledge that some progress has been made, a continued unremitting effort from all concerned is required in order to assure TEAM's future viability.
