Pádraig Mac Lochlainn (Donegal North East, Sinn Fein) | Oireachtas source

The Ceann Comhairle was kind enough to allow me to raise a Topical Issue on this subject but, thanks to a mess-up in my office, I missed the debate. I apologise and appreciate the opportunity to raise the matter again.

The Minister referred to professional audits and qualified accountants. However, if he reads excerpts from the report, he will note it states the negative capital and reserves of the company were almost €2.2 million underwater as of 31 December 2010. It also states: "These conditions indicate the existence of a material uncertainty which may cast significant doubt about the company's ability to continue as a going concern." Furthermore, it states: "The financial statements do not include any adjustments that would result if the Company was unable to continue as a going concern." The latter is repeated twice. These three statements raise serious concerns that should have stood out significantly.

The Irish Aviation Authority, a State agency with regulatory responsibility, gave the college a clean bill of health. Enterprise Ireland, a semi-State body, granted €400,000 to the college on top of an earlier grant of €8,000.

It could be any Irish family but we are focused here on our constituents who spent their life savings so their children could meet their ambitions.

The full imprimatur of both the Irish Aviation Authority and Enterprise Ireland had been given to this company even though it is clear from its accounts that it was in serious difficulty. Families now hear about companies like Clearsky Pilot Training College Limited and the Shemburn Group, which allow the same directors to start again and possibly get a licence. Where is the justice in this? I know the Minister has met the families and knows the issue very well but I appeal to him to reconsider. The Irish Aviation Authority will be appearing before the Oireachtas Joint Committee on Transport and Communications next Wednesday morning. I ask the Minister to look at the transcript of that meeting afterwards. I appeal to him to reconsider because this is very unfair to dozens of Irish families who face serious hardship. I admire the Minister's approach to many of these matters so I ask him to reconsider with more information.

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