Sir, – I refer to the seemingly terminal state of the CIÉ Group’s finances, and the apparent risk of collapse in the absence of a €36 million injection from the taxpayer (Front page, July 25th). Further to this I would like to draw attention to the respective salaries of the chief executive officers Irish Rail, Bus Éireann and Dublin Bus, which make very interesting reading in light of recent events.
In the absence at time of writing of the release of CIÉ Group 2011 Annual Reports, let me refer to those of 2010. In that year the CEO of Irish Rail earned €331,565, his counterpart at Bus Éireann grossed €216,683, while Dublin Bus valued its chief executive at €245,871. In this period the group recorded a deficit of €53.6 million. That a semi-state chief executive can earn in excess of €27,000 per month against such a backdrop is simply staggering and wholly unacceptable in my opinion.
I eagerly await the publishing of the group’s 2011 reports, and can only hope that the salary levels of senior management for that year reflect proximity to the company and country’s economic realities. I trust that Minister for Transport Leo Varadkar has made such funding conditional on the curtailment of such largesse. – Yours, etc,