Oireachtas Joint and Select Committees

Tuesday, 22 June 2021

Joint Oireachtas Committee on Transport, Tourism and Sport

Issues facing the Aviation Industry: Discussion (Resumed)

Ms Lynne Embleton:

The difference between generating cash and burning cash has been more than the headline losses. The headline losses were €360 million last year and €103 million in the first three months of this year. We are now nearly halfway through the year, so the committee can imagine that the cash burn is significantly ahead of the €150 million ISIF loan that we have received do far. We are looking to restore our liquidity to the tune of a few hundred million euro, but the precise numbers depend on where we can access that liquidity, its terms and the number of days we continue to burn cash.

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