Oireachtas Joint and Select Committees

Friday, 24 July 2020

Special Committee on Covid-19 Response

Covid-19: Impact on International Travel

Mr. Evan Cullen:

For example, Aer Lingus is currently in a closed period and, therefore, we do not have access to its accounts. We are relying on information we have from negotiations with it. We negotiated a comprehensive pay reduction of in excess of 50% for approximately the next 12 to 18 months with Aer Lingus and we had some access to its figures. There are many qualified people within IALPA with backgrounds in accountancy or actuary who have done an assessment. We believe that Aer Lingus will certainly not survive another two months of this. We have zero revenue and a cash burn in the region of €1.5 million a day. There is no organisation, as we understand it, that can survive that.

Other organisations within the IAG group have received significant state support.

Even Irish airlines are receiving state support from the UK Government while the Irish Government does nothing.

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