Oireachtas Joint and Select Committees

Thursday, 24 January 2013

Public Accounts Committee

National Transport Authority - Financial Statement 2011

12:00 pm

Photo of John McGuinnessJohn McGuinness (Carlow-Kilkenny, Fianna Fail) | Oireachtas source

It is a massive amount of money for a company whose accounts show that it has trading difficulties and that it will not come into profitability until 2015. That is a huge problem for the NTA, the State and the company. The situation for the travelling public is that all of the money is going in through the NTA, which sets the fares. Mr. Murphy said this morning that the authority only sets the fares based on the company’s contractual obligation to the service. Once it provides the service, the NTA – I accept the money comes from the Government – has the job of continuing to put the money into it. Is that correct?

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