Seán Ryan (Dublin North, Labour)

As a Deputy for Dublin North, I consider it a disgrace that in the Government's haste to put the final touches to the Aer Lingus Act 2004, it allowed me only two minutes to describe the disgust and anger felt by former Aer Lingus employees and the general public. Since it was founded in 1936, Aer Lingus has made a major contribution to the economic and social development of Ireland. Generations of Aer Lingus workers can be proud of the contributions they made to the economy and the north Dublin region over the past 70 years. However, compliments will not put food on the table or provide a reasonable quality of life to the people who worked for the company. Pensioners have no guarantees with regard to consumer price index increases and, in other semi-State schemes, have fallen behind by 50% in the past ten years and have been fobbed by this Government for the past nine years.

This morning at Dublin Airport, while expressing opposition on behalf of the Labour Party to the privatisation of the company, I appealed to the trade unions to negotiate with management on outstanding issues. They have to address work related issues because the political decisions have already been made and are being copperfastened here this afternoon. I asked the unions to ensure the interests of pensioners are made part of the package and I am sure that will be the case.

This Government, and Fianna Fáil in particular, is selling Aer Lingus for as little as €400 million. Willie Walsh and company told us Aer Lingus would require €1 billion. The current CEO, Dermot Mannion, informs us the company will require €2 billion. If another CEO is appointed, that figure may increase to €3 billion. However, the State will give a mere €400 million to the company and the balance will have to be secured from other sources.

The advocates of privatisation take it as given that only private companies can be efficient and profitable but Aer Lingus is both thanks to the efforts of its staff. We are told privatisation is the only way by which companies can raise capital to fund future investment. These arguments are untrue and they ignore the strategic importance of Aer Lingus and other semi-State companies to the future of the economy.

Fianna Fáil Deputies should lower their heads in shame as they vote through the sale of our national carrier. A recent meeting was held at Dublin Airport, to which 11 Fianna Fáil Deputies were invited, including Deputies Martin Brady, Woods, Haughey, Callely, Carey, Noel Ahern, Glennon, Wright, Brian Lenihan and Fitzpatrick.

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