Martin Cullen (Waterford, Fianna Fail)

I said that there is an immediate, medium and short-term need for investment in the company. The company is planning to invest approximately €2 billion in aircraft purchase in the medium term. It is examining many new routes into the United States, which will be available under the open skies policy. The competition for and on these routes will be great. The agreement I succeeded in getting from the Americans, and agreed by my European colleagues in the transition period from Shannon, will provide a good opportunity for a stepped-up approach from Aer Lingus to expand substantially on what will become a very competitive route on the North Atlantic.

This month, Aer Lingus will begin its new services into the Middle East. This is the first new major long-haul destination in that direction by the airline. Clearly there are further opportunities that Aer Lingus needs and must exploit to remain competitive and successful into the Far East, Australia and South Africa. This planning must take place now. The potential for purchasing aircraft in bulk can change substantially the cost to the airline. If the airline is now in a position to do a major deal with a big supplier based on its needs over the coming years, it will be in a position to do so because we are providing the resources.

I am not taking an ideological position on this issue. Everyone, including the trade unions, know that I take a very pragmatic approach to ensuring that Aer Lingus will survive. If Aer Lingus remains in its current construct, it will have no chance of survival. The evidence for this is that almost no airline remains in state ownership as we know it. All the international airlines in state ownership are either gone or are going down the tubes rapidly.

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