Vol. 491 No. 7
107 Mr. Gilmore asked the Minister for Public Enterprise the impact of the accumulated losses at TEAM Aer Lingus combined with the net sale price of the company on the balance sheet of Aer Lingus; her view on the investment of £175 million in Aer Lingus under the Cahill plan in the light of the losses and the negative sale price for TEAM Aer Lingus; and the implications, if any, for the future of the airline, particularly in regard to employment. [13197/98]
It would be inappropriate to speculate on the impact of the sale of TEAM on the group balance sheet as no such proposal has been finalised. TEAM's accumulated losses have been recognised in the Aer Lingus group accounts on an ongoing basis.
The £175 million in Government equity supported the Cahill plan and was necessary to ensure the survival of the group. It is my overriding concern to ensure that all actions proposed secure the maximum level of employment in both the airline and TEAM into the future.
