Timmy Dooley (Clare, Fianna Fail)
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Question 594: To ask the Minister for Transport, Tourism and Sport if in the report of the review group on State assets and liabilities, recommendation 40, the McCarthy group recommended the disposal of CIE Tours International, the reason that he has not followed these recommendations; and if he will make a statement on the matter. [12389/12]

Timmy Dooley (Clare, Fianna Fail)
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Question 595: To ask the Minister for Transport, Tourism and Sport if in the report of the review group on State assets and liabilities, recommendation 40, the McCarthy group recommended the disposal of Expressway and other bus businesses competing directly with private operators, the reason that he has not followed these recommendations; and if he will make a statement on the matter. [12390/12]

Timmy Dooley (Clare, Fianna Fail)
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Question 597: To ask the Minister for Transport, Tourism and Sport if his attention has been drawn to the fact that the State owned coach touring company CIE Tours International is registered outside the State and does not publish annual accounts; if he will agree to publishing accounts for CIE Tours International; his views on the company's future in view of the fact that it was earmarked for sale in the most recent report of the review group on State assets and liabilities; and if he will make a statement on the matter. [12393/12]

Leo Varadkar (Dublin West, Fine Gael)
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I propose to take Questions Nos. 594, 595 and 597 together.

The Government has agreed the shape and scale of the asset disposal programme to be pursued as a commitment under the EU/IMF Programme, and as provided for in the Programme for Government. CIÉ and its three operating subsidiary companies are important State assets. However, it must be recognised that they are unique semi-state companies, in that they are in receipt of significant amount of Exchequer funding from the National Transport Authority for the provision of non-commercial public service obligation services. Even after these payments for PSO services, they still recorded a loss of €53.6m in 2010. Furthermore, there is a significant pension deficit within the Group.

In this regard, I would concur with the Report of the Review Group on State Assets and Liabilities, which stated that "having regard to the unavoidable losses inherent in maintaining a nationwide railway and uneconomic urban and rural bus services, disposal or part-disposal of the main CIE companies is not a realistic short-term option." Having considered the matter I do not consider the disposal of Expressway as a realistic short term option.

CIÉ Tours International, Inc. is a wholly owned subsidiary of Córas Iompair Éireann and is registered in the United States of America where most of their customers reside and its main offices are located. The main business of CIÉ Tours International, Inc. is to retail coach tour packages on behalf of CIÉ Tours. I have asked the Chair of CIE to examine the future role of CIE Tours within the CIE Group.

Following a request from me, I have received the financial statements for CIÉ Tours International, Inc. for the years ended March 31, 2011 and 2010. It is my intention, subject to legal considerations, to ensure a copy of the financial statements is laid before each House of the Oireachtas following submission to Government of the 2011 CIÉ accounts.