Mr. Ray Gray:

We have incurred losses of over €100 million to date. That is the sort of impact it has had. The aviation sector is a cyclical industry and we always maintain a prudent position in order that we can withstand what happens within it periodically. Nobody ever anticipated something of this scale, however. We have positioned ourselves like an oxygen tank in order that we might be able to get through an uncertain period, but that will only be for a limited time. At the end of last year we had approximately 3,500 employees. In the region of two thirds of those are being supported through the temporary wage subsidy scheme. That has been a very important measure in the mitigation of our costs.

As Ms Considine outlined, both airport authorities have been obliged to take very difficult decisions. We have reduced the working time of our employees. We have had support from the temporary wage subsidy scheme. We reduced our costs where we could do that, particularly variable costs. We probably mitigated them at the peak by approximately 60%, which is a significant proportion. Nonetheless, we incurred significant costs.