Martin Cullen (Waterford, Fianna Fail)

Last Tuesday, I briefed my colleagues at Cabinet on a number of key aviation issues, including the future of Aer Lingus. I am anxious in the interests of the airline to move forward on this issue as a matter of urgency. As the House is aware, Aer Lingus must be provided with the flexibility to grow and compete on a level playing field.

The current situation is not sustainable and is restricting the airline, particularly in regard to profitable growth opportunities on long haul routes. To fund that growth and to provide financial security, Aer Lingus must have access to the full range of funding mechanisms. Equity capital is a crucial element in that mix. Early clarity on realistic options for accessing that equity are crucial and I will bring specific proposals in this regard to Government shortly. I will continue to consult stakeholders as I move forward on this issue.

If the Government decides to embark on a sale of all or part of Aer Lingus, I will set out for the House, in accordance with the provisions of the Aer Lingus Act 2004, the general principles of the proposed sale as well as the basis for the Government's decision and the arguments for and against such a sale. I will also set out how the Government proposes to deal with important strategic issues.

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