Aer Lingus replacement fleet financing
Aer Lingus will finance approved European fleet replacements through its own resources and borrowing, without State equity or guarantees; North Atlantic replacement is not expected until the mid-1990s. The Chair then closed questions.
asked the Minister for Tourism and Transport if the Government will be required to give any financial assistance or guarantees to Aer Lingus for the replacement of their fleet; if not, the way in which the cost will be financed; and if he will make a statement on the matter.
Comment on this
Aer Lingus' proposals for replacement of their European fleet submitted to Government to date have been approved on the basis that the expenditure involved will be financed by the airline, through a combination of their resources and borrowing, without recourse to the Government for equity or State guarantees of borrowing. The question of replacement of the North Atlantic fleet will not arise until the mid-nineties. I should inform the Deputy, however, that in the meantime Aer Lingus are proposing, subject to Government approval, to lease two Boeing 767 aircraft to augment their existing capacity on the North Atlantic, again without recourse to the Government for equity or State guarantees.
