asked the Minister for Transport the estimated deficit for Córas Iompair Éireann for 1982.
Written Answers. - Estimated Deficits for Semi-State Bodies.
283.
The present estimate of CIE's deficit on subventible activities in 1982 is £106.45 million.
284.
asked the Minister for Transport the estimated deficit for Aer Lingus for 1982; and the subvention the Government intend to make available to offset this deficit.
The air companies' accounts for the year ended 31 March 1982 were published in July of this year and showed a net loss, after deduction of interest and taxation, of £9.24 million. As regards the current year, the air companies have informed me that their operating performance to date is ahead of last year but that it is not possible at this stage to make an estimate of the net outturn for the year ending 31 March 1983.
The air companies are not in receipt of any Exchequer subvention but, as already announced, the Government have authorised me to promote legislation providing for an increase of £60 million in the amount of share capital in Aerlínte which may be subscribed by the Minister for Finance, as well as an increase from £75 million to £150 million in the State guarantee limit for borrowings by the air companies. I propose to bring this legislation before the House during the current session. It is the intention that £10 million equity will be invested in Aerlínte in 1982, with further sums of £10 million being invested in 1983 and 1984. In addition to this equity investment, the Government have also decided to make available a sum of £5 million per annum for a period of three years commencing in 1983 by way of cost alleviation payments to Aerlínte.
285.
asked the Minister for Transport the estimated deficit for the B & I Shipping Line in 1982; and the subvention the Government intend to make available to offset this deficit.
As I stated in the course of the passage through the Dáil of the British & Irish Steam Packet Company Limited (Acquisition) (Amendment) Act, 1982, the Government have agreed to take up additional equity in the B & I Company, not exceeding £8.7 million in 1982. Five million pounds of this amount has already been made available to the company. The loss projected by the B & I board at this stage for the year 1982 is £8 million which will have to be met from the company's own resources, including the sale of surplus assets.