Shane Ross (Dublin South, Independent)

I wish to accentuate the dangers of an 80% dominance in a sector of this type. There was a madcap proposal some ten years ago where Bank of Ireland wanted to merge with AIB, the consequences of which would have been catastrophic. The principle applies equally to the airlines. Thankfully that proposal went west, with, as I recall, the then Government's approval. I hope the Government will see that this particular proposal goes under as well.

The question does arise as to whether we are all dancing to the wrong tune this morning in discussing the Ryanair bid. Has the Government considered whether it is an attempt by Michael O'Leary to sell his shares in Aer Lingus? Is he setting a price of €1.30 because that will raise the value of the assets on his balance sheet? The market seems to regard it as such this morning because the share price has only gone to €1.15. If there is a 29% shareholding overhanging the market - that is what is really going on, in my view - will the Taoiseach consider refusing the bid and bringing forward the sale of the Government's holding to get a better price? If there is a huge overhang of shares in the market, then the Government, in its own interests, should sell out before Ryanair does and not leave it until next year.

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