Oireachtas Joint and Select Committees

Wednesday, 19 June 2013

Joint Oireachtas Committee on Finance, Public Expenditure and Reform

Disposal of State Assets and Quarterly Review: Discussion with Minister for Public Expenditure and Reform

6:05 pm

Photo of Kevin HumphreysKevin Humphreys (Dublin South East, Labour) | Oireachtas source

The percentage of shares we hold means we have very little influence on the issues to which the Minister referred. I accept the Minister is aware of the due diligence that has been carried out and he has more information than I have. However, looking from the outside in, there must be a question mark over whether the amount of money in Aer Lingus would be better spent elsewhere if we have very little influence on the policy and direction of the company and given that we must try to guarantee our connectivity in whatever manner we can because of the shareholding we have and to ensure there is competition. What is the basis of the argument for the sale, other than to make sure a good price is achieved for the shares? We have been left with this situation. I would prefer if we still had ownership of Aer Lingus but we do not. We must make a rational decision on whether it is worth our while holding the 25% we have and if Aer Lingus is the best place for the taxpayers' money.

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