Eamon Ryan (Dublin South, Green Party)

I put it to the Minister that what is abundantly clear is that this has been one of the worst decisions and the most obvious mistake made by any Minister in the many years I can remember. It has taken a week for the folly of his course of action to emerge. As Deputy Shortall stated, this was argued against on this side of the House. Our party was strongly against it. It was an incredibly foolish and reckless decision to give up a national asset and to put it, effectively, on the market.

The Minister stated that nothing formal is on the table. The fact Ryanair in one day owns more of the company than the Government shows the change of thinking. Ryanair is running rings around the Minister. It is acting way ahead of him. Does the Minister agree that, even if Ryanair does not end up owning the company or taking a controlling stake, the company is "in play" in market terms? As Eircom was before it, Aer Lingus will become a vehicle for market speculation and changes of ownership in a manner over which we have no control despite what the Minister says about golden stakes.

I would argue and contend that this is a calamity for the company and of no benefit to the public. It is of disastrous consequence for aviation policy in this country. Given that events are evolving by the minute as Ryanair buys up the company today, has the Government considered going to the market and repurchasing some of the company, which it sold last week, in recognition of the fact that matters are out of the its control? Has the Government contacted the European competition authorities and how does it intend to influence them in this regard? What is the timeframe for a decision by the authorities? How rapidly will a decision be made on whether such a takeover would be in breach of European competition rules?

If the Government will not buy back some of the company or if it cannot tell the House what is the ruling of a competition authority, what can it do? What will the Government do today if, as any sensible person would, it believes that such a takeover is not in the interests of the State? What can the Government do after its incredible mistake in selling this company last week?

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