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Treasury says its decision to extend financial support to an airline which later went into liquidation was "sound". 

 

That's according to Minister Eddie Teare who's been forced to defend the support for Euromanx almost eight years later.

 

In the House of Keys last week he also confirmed that government could find no reference of the company having a £20 million overdraft. 

 

Despite this Onchan MHK Peter Karran said he believes Treasury has failed to 'establish the truth' about the company's finances:

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