Mr. Tom O'Mahony:

I will give the committee my understanding of what has emerged but it should rely on what comes from Mr. Murphy for the definitive figures. As I understand it, if these carriages were to be sold on for use somewhere else, they would have to be substantially modified and the cost of the modification would have to come off. The book value is just over €40 million but the modification would cost about €10 million, so the potential sale price based on the book value would be a maximum of €30 million. This is for 21 rail cars. However, the expectation is that one would have to offer a substantial discount to get somebody to take them. One could not be sure what the discount would be. It could be as much as 50%. If that were the case, one could get in the region of €15 million to €20 million, or, say, €1 million per rail car. It is true that would bring cashflow in but if, in four or five years' time, one needed to buy rail cars, one would be paying €2.5 million for them.