Noel Rock (Dublin North West, Fine Gael) | Oireachtas source

Let us take the Federal Aviation Administration figure of €1.8 million and we will add that to the amount received, so we come to €2.271 million. Then we have the engine repair in 2018 and 2019. The figure given to The Irish Timeswas €2.5 million or thereabouts, so we will add that to the €2.271. We come to €4.771 at this point. If we were to add the annual maintenance costs for 2015 and 2016, which comes to an average of about €300,000 to €350,000, but with a ceiling of €400,000 generally - let us take the €400,000 for the sake of fairness - that would come to a figure of €5.57 million. Compare and contrast that with the insurance certificate which was presented here with a flourish. The cost for that was $5 million, and we will subtract about 5% since the exchange rate is not great right now, so that is about €4.75 million. I have spoken to people in the aviation industry, and there would be two things in the insurance that would inflate the value of insurance on the certificate to take into account. One would be the lost profit element to the company and the other would be the slight inflation between the list price received for the aircraft and the insure price to the aircraft. Much like with insurance on a car there would be a discrepancy there. It tends to be about 5% as well. Ultimately, if I am not mistaken, the course of action that Mr. Quinn took saved the State money. Would that be a fair assessment?