Bertie Ahern (Dublin Central, Fianna Fail)

From the outset of the Aer Lingus IPO, the Government has been committed to ensuring that our strategic interests are protected. It was always the intention to retain a significant minority shareholding for this purpose and the State's shareholding is 28.3% of the company. As a result of the IPO, Aer Lingus has the means at its disposal to fulfil its potential and to contribute positively to the country's economic development.

The approach from Ryanair was unexpected. It is, in the first instance, a matter for the board of directors of the company to evaluate the Ryanair offer and to express an opinion to shareholders. It is also the case that any proposal of this kind would require regulatory clearance and it remains to be clarified whether this is a matter for the Irish regulatory authorities or the European Commission. That matter is being closely examined today. The Minister for Transport is consulting his advisers. He will evaluate all the strategic and policy issues arising and will set out the position more fully at an appropriate time.

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