Enterprise Ireland Statement on the Pilot Training College of Ireland
Enterprise Ireland is aware of the current situation with Pilot Training College Ireland in Waterford and Florida and we understand the concerns of the students of the college and their families.
Enterprise Ireland provided €440k in repayable financial support* to the Pilot Training College of Ireland in 2010. The money was provided to support the business and employment in Ireland. Enterprise Ireland’s funding is not linked to the contract between PTC and the Florida Training Institute.
Enterprise Ireland is in regular contact with the company and has offered to provide any assistance we can. However, Enterprise Ireland does not have a direct role in the management of the company or in the management of the current situation.
*Enterprise Ireland’s financial support was provided in the form of preference shares. These are different from ordinary shares. Preference sharesrepayable after a fixed period and they do not carry any voting rights.
For further information, please contact the Press Office at 01-7272284.