Eamonn Maloney (Dublin South West, Labour) | Oireachtas source

I thank all four representatives for their frank and informative contributions. I wish to make two points. Speaking as a legislator and as a taxpayer, I am around long enough to remember and to take sufficient interest in the original privatisation of Aer Lingus. I do not think there are many defenders of what that did for the taxpayer. It was pretty much a short-term gain. If we were going through that exercise today it would not happen; taking this country, the taxpayers and the labour force at that time, when accumulated, it was not a great exercise to boast about. People should be very cautious about going into phase 2 privatisation of Aer Lingus.

I say these things in the absence of a formal offer. We have to be objective about it and not get over-emotional about it. As already alluded to, it would take some substantial offer with multiple conditions for anyone to be persuaded for the State to surrender its 25.1% share. I am one of the people who take that view. As a lifelong trade unionist, anybody who has read what has happened in the past in Aer Lingus will be aware of the sacrifices that were made to turn it into a profitable company. That is not emphasised enough, Aer Lingus is profitable and good for the taxpayer. Objectively, on the basis of a formal offer, I would object strongly to Aer Lingus being sold off, and sold off on the cheap.