John Ellis (Sligo-Leitrim, Fianna Fail)

As I was saying before I was so rudely interrupted, it is important from the point of view of Aer Lingus's future development that the necessary funding is provided. This is all about funding to allow Aer Lingus to progress as an airline. Many speak about the danger of losing a national airline. We will not lose a national airline but if allowed remain in its present state Aer Lingus will begin to go into reverse.

Anybody who studies the last set of accounts from Aer Lingus will see that, were it not for cutbacks in salary expenses and reduced staffing levels, it would not have been able to produce a profit of €1 billion. How can anybody expect that airline to move on and make the €1 billion investment needed to make it into the international airline it will have to be? Its long-haul fleet needs to be replaced as soon as possible and its European fleet needs upgrading. If we are to have a national airline it is important that it is properly funded.

People spoke inside and outside the House about the prospect of losing ownership of Aer Lingus, but that will not happen. The private sector is willing to come in and provide the necessary funding to move Aer Lingus to the next step. We all heard Members bleat when Willie Walsh announced that he was moving because no decisions had been taken. Now when decisions are being taken they are not right.

A number of areas are protected up to a point. For example, the 14.9% stakeholding held by Aer Lingus workers will remain. A shareholding of more than 11% is required as a blocking majority in regard to doing anything to Aer Lingus. I am fully supportive of the moves to examine the possibility of selling off a portion of Aer Lingus. I have no doubt that if Aer Lingus is to prosper it needs capital, which cannot be provided from Government sources.

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