Oireachtas Joint and Select Committees

Tuesday, 17 February 2015

Joint Oireachtas Committee on Transport and Communications

Proposed Sale of Aer Lingus: (Resumed) Aer Lingus and Stobart Air

5:00 pm

Photo of Sean BarrettSean Barrett (Independent)
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This is a major issue and producing no documents last week or today is not good enough. I assure the committee that there is a strong economic tradition against this kind of takeover and anti-competitive merger. There are articles on it in the Treaty of Rome and, as such, we have to hear the other side. I have heard a great deal of wishful thinking from the advocates of the takeover and it is a question of "They would say that, wouldn't they?" That is the way these mergers go ahead, but in other jurisdictions they are usually analysed independently. Announcing it several times without documentation and the invocation of Stock Exchange rules prevents us from having a national view. It is our job to determine whether this would be in the broader national interest. The advocates are here but the analysts are not. We have heard claims which do not stand up on the evidence. We need something better to agree to the sale of 25.1% of Aer Lingus than what we have been hearing.

I ask Mr. Brogan if Stobart Air withdrew from Shannon Airport about six weeks ago?