States refuses to release ‘commercially sensitive’ details of Aurigny losses
THE States has refused to release information that would substantiate Aurigny’s losses on the Alderney routes.
In the 2019 Budget, it said that the airline has forecast a £4.4m. loss for 2019 with £3m. attributable to Alderney flights.
Politicians and residents in Alderney have disputed that figure and called to see detailed management accounts.
A response to an access to public information request said that detailed profit and loss statements, cash flow statements and balance sheets and other management accounting information are provided to the States’ Trading Supervisory Board
and the Policy & Resources Committee by the board of directors of Cabernet, which is Aurigny’s parent company.
‘However, this arrangement is subject to a requirement of the Cabernet board that these remain confidential,’ the States said.
‘These detailed figures contain commercially sensitive information which, if published, could harm the competitive position of Cabernet and, as such, could prejudice the commercial interests of both Cabernet (and, by extension) the States; It is for this reason that the States publishes only consolidated financial information on the company’s performance in its Budget report and annual accounts.
‘Similarly, the States only requires Cabernet to publish its consolidated annual accounts. Detailed information has never been published on a route-by-route basis.
‘The annual financial statements for Cabernet and Aurigny are independently audited.’