Tommy Broughan (Dublin North East, Labour)

At the time of the first attack on Aer Lingus by Ryanair, which the Minister's predecessor should have expected, Commissioner Kroes demolished the bid on economic grounds, in terms of the severe lack of competition and connectivity and pointed out that this was different from other takeover bids in Europe. Has the Minister had any contact with the Commissioner?

Looking at the two airlines over the past year or so, is it not a fact that Ryanair has performed quite badly from its shareholders' viewpoint, with massive losses and a serious failure in the hedging of fuel costs as well as other problems on the closure of bases and so on? At the same time, the smaller airline has had a relatively good six months and looks as if it will break even in this very difficult period. Is this not really a smash and grab exercise by Michael O'Leary, in his typical buccaneer fashion, on an enormous asset which is worth three or four times the valuation he has put on it?

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