Mr. Brian Kealy:

The IAA's view would be that its role was as a safety regulator and checking that companies have enough resources is almost incidental to its responsibility. In writing back to us, it would say that it is not a commercial regulator and that its role was solely safety oversight. One of the executives in the IAA would write back to Ms Kealy. That was the line it took. Its role is very much driven by the international regulations, and those regulations make it quite clear that there is a financial monitoring role in making sure that a company has sufficient resources. It is not a guarantee of the moneys. At the same time, however, if the flight training organisation is dependent on people prepaying moneys in ever-increasing amounts in order to be able to fly a plane, there is something wrong.