The government is due to write off more than £182,000 owed to it by airline Aer Arann, according to Chief Minister Tony Brown.
He faced questions from Onchan MHK Peter Karran about how much cash the Island stood to lose because of the company’s financial problems.
The firm went into examinership in Ireland last year – similar to Manx companies going into receivership – and restructured its debts with creditors.
Under the new deal, the government will get just 10 per cent of the total cash still outstanding.
Mr Brown told the House of Keys yesterday (Tuesday) that meant £182,149 will be written off this year.
Businesses invited to meeting to discuss pending Minimum Wage rise
Chamber urges voters to back candidates who will make Island a 'competitive international jurisdiction'
Post Office to raise letter prices and bring in stamp expiry dates
Sight Matters highlight the importance of Will Writing Month
