Máire Hoctor (Tipperary North, Fianna Fail)

I will have something to say to the Labour Party in a moment and will address Deputy Michael D. Higgins's point also.

Article 84 of the articles of association contains a number of limitations on the right of a shareholder to overrule Aer Lingus's management decisions on business matters. In law, the directors are responsible for managing the company's business and the shareholders are not entitled to overrule management's decisions on business issues by way of a resolution passed at an extraordinary general meeting. Furthermore, directors are not obliged, as a matter of law, to follow any directions from the shareholders in respect of business matters or to obey any resolution with regard to such matters. We accept we must then examine other means, including other airlines, and offer the most attractive package with a view to retaining the Heathrow-Shannon route.

I have had regular discussions with the Minister and the Taoiseach on this matter, as have my colleagues from the mid-west. We support them in their efforts and emphasise to them the extreme importance of maintaining economic growth, retaining jobs and sustaining businesses in the mid-west region. Some 300 businesses were represented at the meeting at Shannon. They made it clear to us how important the slots were.

Long before Aer Lingus made the decision, the Minister for Finance introduced tax incentives for development in the mid-west area, particularly lake shore developments along Lough Derg in County Clare and North Tipperary. These will be more important in view of the recent decision by Aer Lingus.

When the issue of Shannon Airport came before us in this House, it concerned the sustainability of Shannon Airport and whether the Government would allow US troops to travel through Shannon Airport. The Government voted to allow troops through Shannon in the interests of sustainability, jobs and economic growth of the mid-west region.

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