Dáil debates

Wednesday, 7 June 2006

3:00 pm

Photo of Martin CullenMartin Cullen (Waterford, Fianna Fail)

I do not accept that I have not consulted satisfactorily with Aer Lingus staff or trade unions on the planned investment transaction for Aer Lingus. Prior to the Government's decision in May of last year to reduce its shareholding in Aer Lingus to facilitate equity investment in the company while retaining a significant stake, I consulted the trade unions on the company's future ownership structure and funding requirements, as required under the terms of Sustaining Progress. Since then and prior to the decision in April this year on the basis on which an investment transaction will take place, I met a delegation of Aer Lingus trade unions and officials from the Irish Congress of Trade Unions on three separate occasions, in June 2005 and on 2 March and 3 April this year.

In addition, the agreement reached with the Aer Lingus trade unions concerning the employee share ownership plan, ESOP, provides for a consultation process with regard to any third party investment in Aer Lingus. Pursuant to that agreement, departmental officials, the advisers to the Minister for Finance and I have met on a number of occasions the advisers to the Aer Lingus employee share ownership trust, ESOT, and the Aer Lingus central representative council. The latter is the representative body of all the Aer Lingus trade unions.

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