Committee Reports > List of Committees > Dáil > 1954 > Committee of Public Accounts > Report - Appropriation Accounts 1951 - 1952

APPENDIX IX.

STATEMENT AS TO PROFIT AND LOSS POSITION OF AER LINGUS, TEORANTA.

Secretary,

Committee of Public Accounts.

Vote for Aviation and Meteorological Services.

At the proceedings of the Committee on the 15th July, 1953, I undertook to furnish further particulars on the following matter:—

Subsidy in Respect of Air Services

Aer Lingus, Teoranta, showed a profit of £14,646 in 1950/51.

This sum was employed in writing off the expenses (£12,337) incurred in connection with the increase in authorised capital and in writing down by £2,309 capital losses incurred on the sale of aircraft and equipment.

The year 1951/52 showed a profit of £72,405. £70,000 of this sum was applied to writing down capital losses previously incurred, and the balance, £2,405, was carried forward to 1952/53.

The year 1952/53 showed a loss of £83,313.

This amount has been carried forward to be met, if possible, from future profits.

Department of Industry and Commerce.

30 July, 1953.