Leo Varadkar
Question:354 Deputy Leo Varadkar asked the Minister for Transport the companies in which his Department holds an equity stake; the level of the equity stake; and if he will make a statement on the matter. [6639/08]
View answerDáil Éireann Debate, Tuesday - 19 February 2008
354 Deputy Leo Varadkar asked the Minister for Transport the companies in which his Department holds an equity stake; the level of the equity stake; and if he will make a statement on the matter. [6639/08]
View answerThe Minister for Finance is the primary shareholder of the three State Airports. Department of Transport officials hold two shares and the Minister for Transport holds one share in each of the airports. The Minister for Transport holds a 20% stake in Aviareto, the company that was awarded the contract to operate the International Registry under the Capetown Convention. The authority for the Minister to acquire shares in the company was given under Section 10 of the International Interests in Mobile Equipment (Capetown Convention) Act, 2005.
The Irish Aviation Authority is a Commercial State Body established under the Irish Aviation Authority Act 1993. In accordance with Section 20(1) of the Act, the Minister was issued with one share of one pound (Euro 1.27) in the share capital of the company. This shareholding remains constant to date.
The Minister for Transport is the primary shareholder in the ten State port companies established under the Harbours Act 1996-2000 as follows:
Port of Cork Company
Drogheda Port Company
Dublin Port Company
Dun Laoghaire Harbour Company
Shannon Foynes Port Company
Galway Harbour Company
New Ross Port Company
Port of Waterford Company
Dundalk Port Company
Wicklow Port Company
The Minister's level of equity in each company is effectively 100%, with the Minister for Finance holding a nominal share in each.