368 Dr. Lee asked the Minister for Tourism and Transport the subsidiaries of Aer Lingus Holidays, if any, which have been sold in accordance with his instructions; to whom they were sold; the purchase price obtained; and the conditions of sale.

Sales of subsidiaries of Aer Lingus Holidays Limited are either completed or at an advanced stage. The brand names Sunbound and Blueskies have been sold to Budget Travel while specialist and retail businesses comprising Cara Holidays Limited and the Cork and Belfast offices have been sold to former management. The various transactions are subject to normal commercial conditions.

The purchase consideration for the sales which have been completed to date amounts to approximately £460,000. Further considerations of up to £700,000 approximately may be received over the coming years in respect of the sale of the brand names depending on the future profitability of the purchaser.