169,021 Gardai Overtime Hours Clocked Up on Bush Visit

by Tim Fri Dec 10, 2004 18:52

originally a comment
I posted this as a comment to a story about Garda overtime during Bush visit.
When i hit add comment, the story was gone.
please add this if the original story gets put back up after it is verified or whatever else.

Apologies if the following is boring financial stuff, but you must bear in mind that I'm a planespotter AND a former Fund Administrator :-)
I notice in the carefully worded government statements that they talk about REVENUE that Aer Rianta got from military flights.

They talk about "REVENUE" not "PROFIT"...
What's the difference?
Profit is what you have when you subtract your COSTS from your REVENUES.

Revenue is what goes in the till and profit is what goes in the bank after you pay your bills (or a net loss when you borrow from the bank to make up a shortfall)

If there 15million in Revenue, then you should subtract the costs paid out to the handling companies, the fuel companies, and the cost of the security, and most of the security costs are FOR military flights (including APO and Garda overtime, the new portokabins, fences, jeeps, and lighting stands)
Then subtract the cost of Bush visit, (at least 15 million euros between Garda and Army operations)
and subtract again the €6,000,000 subsidy that the Irish taxpayer is paying annually for the US military air traffic control charges (the Pentagon wouldn't pay them- so our Dept of Transport has to cough up the money for ATC charges... our money)

So, who thinks that the military use of Shannon airport is actually generating profit for the country?

by Michael Fri Dec 10, 2004 22:14

Some people who visit this website are students of business, accounting and economics. Perhaps someone could do a project or a thesis even for college on this issue. How does it work out in the end? How much does it cost? How much are officials getting in kickbacks?