Enda Kenny (Mayo, Fine Gael)

I repeat that the State has a 25% stake in Aer Lingus and, as the Deputy is well aware, we do not have a blocking mechanism that would allow us to prevent this bid. The Deputy asked whether the Government would facilitate the situation by a sale of its shareholding. We have made it perfectly clear that the Government, through the Minister for Finance and the Minister for Public Expenditure and Reform, has had detailed discussions in recent months in respect of the regulatory, competitive and economic aspects of giving consideration to assets that might be disposed of by the State. The Government will publish its definitive list in due course. I override that by saying that every one of those sales would only be finalised and decided upon in the best interests of the country and the people.

From the perspective of the buck that was passed on the previous occasion, this is an improved offer from Ryanair for the value of the company. It does not, however, change the fact that Government will consider the potential disposal of any asset on its merits in respect of what it means for the country and the people. Clearly, the European Commission will make its views known in this regard and, as I said to Deputy Martin, I understand a meeting is taking place this morning. We must have consideration of what is in the best interests of passengers, consumers and business people and what is the best value for the taxpayer. Within the responsibility the Government has of 25% ownership of the company, we will give that proper consideration.

I wish to be very clear in saying, once again, that we will not be pushed into a corner in terms of having to have a fire sale because €175 million is put on the value of the Government's 25% shareholding in Aer Lingus. Obviously, the regulatory authorities will give their view in respect of the competitive element of this. While the director of Ryanair is a person who has made very important moves in the past in the sense of bringing real competition and access to and from this country for hundreds of millions of passengers, the fact is that the Government has a 25% stake in Aer Lingus and there are other players in the field. The Government will consider the bid but, in respect of the disposal of any of our assets, very careful consideration will be given and a decision will only be made on the basis of what is in the best interests of the country and the people.

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