Mr. Owen Reidy:

I thank Deputies Timmy Dooley and Seán Kenny for their questions. I agree with Deputy Timmy Dooley on the cash windfall that might come the Government's way. While all other shareholders are interested in the return on their investments, the Government is a unique shareholder and must consider the matter from a strategic position. It has an opportunity; it is in the driving seat and should not drop the ball. Many backbench Deputies from both parties are making positive noises on the issue. Like my colleague, Mr. Staunton, I regret that the previous Government took the decision to privatise the airline because had it not done so, we might not be in this position. Deputy Timmy Dooley and I disagree on the matter, but so be it.

To respond to Deputy Seán Kenny's question on the guarantees, we do not want to add to the fear and concern. In the absence of facts, we do not want to speculate too much. The Government and the board of Aer Lingus have an opportunity to obtain clarity. While there are macro guarantees around connectivity, the Heathrow Airport slots and the transatlantic routes, the critical micro guarantee is to maintain quality, sustainable, direct labour within Aer Lingus and we make no apologies for saying this. It is a key factor that has contributed to the company's success and must be a key issue for the Government, the business community and the chambers of commerce in the Dublin, Cork and Shannon regions. These guarantees are on two levels. If they are conceded, people can make a more informed choice and we can have a debate on whether there should or should not be a takeover or sale. Until the guarantees are given, there is nothing to discuss and it should be ruled out.