Eamon Ryan (Dublin South, Green Party)

Deputy Shortall is correct. In those circumstances, why should we not debate the basic principle, as stated by Deputy Finian McGrath?

Perhaps my maths is poor but it was reported we would get perhaps €300 million for selling the company, a figure that could be wrong by perhaps €50 million either way. We know that roughly €1 billion is required for the replacement argued for at committee by the chairman of the company. This leaves a gap of €700 million. Would private sector investors borrow to pay for the long haul aircraft? If so, where is the benefit? Are we doing all this for €300 million? Could we not borrow the full €1 billion ourselves? The Minister says the airline is threatened with becoming uncompetitive due to operational problems. It is one of the most profitable and successful airlines in the world. Why are we selling a stake for €300 million when the company needs €1 billion? Will the gap be bridged by private lending and why do we not borrow the money ourselves?

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