Paschal Donohoe (Dublin Central, Fine Gael) | Oireachtas source

I thank my constituency colleague, Deputy Costello, and Deputy McGrath for raising this important matter. I have responded to many questions on this, here on the floor of the Dáil, in the Seanad and in the transport committee, and I look forward to continuing to do so while this matter is under consideration. I will first respond to the core question Deputy Costello put to me regarding the commentary that has appeared today on my status and the constraints upon me and my colleagues in regard to Aer Lingus throughout this bid period. While I will respond now to the points the Deputies have made, a text has also been circulated to them with other material.

The position as it stands, which I have checked very recently, is that I have received the clearest legal advice on the need for my comments and the comments of Government Ministers and our representatives to be cognisant of the fact that we are in a takeover period. The legal advice has been very strong on this aspect. It has been very clear to me that the Irish takeover rules impose a specific set of obligations on Ministers and our representatives, as substantial shareholders in Aer Lingus. This includes obligations on me of confidentiality and to ensure that statements made in connection with the possible offer are accurate and not in any way misleading.

This issue is particularly acute given the State's role in any proposed takeover bid for Aer Lingus. I confirm that the legal advice available to me makes clear that I am constrained in what I can say on the proposed offer because the Irish Takeover Panel has deemed that we are in an offer period.

On the role of the Oireachtas and its committees in respect of the proposed offer, I emphasise that the House has a role in any potential disposal by the Government of the Aer Lingus stake. The Aer Lingus Act 2004 requires that the principles of any disposal be laid before Dáil Éireann and approved before any sale of the Government's 25.1% shareholding may proceed. The legislation is clear that any sale requires Dáil approval. I have been transparent on this point throughout.

Deputy Finian McGrath spoke of the need to carry out a fair and balanced assessment of the offer. He stated that in his view, having considered the relevant issues, the sale of the State's stake in Aer Lingus should not proceed. He is entitled to that view. I have repeatedly emphasised that there is much more at stake than the price of a share. As important as the price is - none of us should dismiss the possibility of money being made available to taxpayers - many other factors must also be considered. I have emphasised, for example, the role of access, competition on routes and the impact of any disposal on general economic development. If an offer is made, I will evaluate all relevant information and make a recommendation to Cabinet. Any decision on the sale of State's shareholding would have to come before the Dáil.

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