Martin Cullen (Waterford, Fianna Fail)

The first thing I should make clear to the House is that what we are reacting to is a press release, some comments from Ryanair and its activity on the market. No formal offer document has been received and the Ryanair deputy chief executive indicated this would be presented in two weeks. We must wait until we see the formal offer document.

Second, the Deputy has speculated, as I am sure have many others, as to the precise agenda of Ryanair. That is entirely a matter for Ryanair and I will not try to guess it. What I and the Government are clear about is that this is unquestionably bad for competition. We are against monopolies in the aviation sector. We are not in favour of a new monopoly being created by a company that was assisted by this State to end a monopoly in the aviation sector. Clearly, all the different regulatory authorities and legal issues, some of which are interrelated, are being studied as we speak.

It is also my understanding that the board of Aer Lingus is obliged to consult with its advisers before it makes a formal statement to its shareholders. We must wait for all of that to unfold in the near future. I emphasise the Government is not going to sell its significant shareholding in Aer Lingus. The memorandum and articles of association cannot be changed.

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