Mr. Ian Talbot:

We are very grateful for the opportunity to address the committee on this vital topic. Chambers Ireland is a national organisation representing in excess of 50 affiliated chambers of commerce throughout the country whose members employ more than 650,000 people. As a result the organisation is uniquely positioned to give the business perspective on matters that impact the entire economy. We also note the special focus on regional economic development in this year's Action Plan for Jobs, launched this morning. I am delighted to be joined today by the leaders of four of our affiliated chambers, from Cork, Dublin, Limerick and Shannon who will address the topic. Also present in the public Gallery is Frank Green, president of the Galway chamber.

Ireland is an island economy and a small one at that. As a result air links are particularly relevant for our economic well-being. There is a statistically significant correlation between air connectivity and GDP growth. Therefore, connectivity is key among the topics of relevance to us in the potential impact of this transaction, positive and adverse. Improved connectivity greatly improves our potential and any threat is a cause of concern. We also note there is very little information available on a potential transaction and therefore a risk of significant speculation on outcomes. We have sought today to work with the facts we know.

I now ask Conor Healy, the chief executive of Cork chamber to address the committee.