Joe Costello (Dublin Central, Labour) | Oireachtas source

I thank the Minister for his response in which he indicated that any offer would have to come before the Dáil for its approval. This means the Dáil will not have any say in the negotiations leading up to a decision, which places a significant limitation on the role the House would play in such a decision. I ask the Minister to consider bringing the matter to the attention of the Committee of Public Accounts in order that it can examine the issue in its role as guardian of the public purse and the need to obtain value for money. The Joint Committee on Transport and Communications could act as the adviser to the shareholder. The Minister is entitled to appoint advisers and the rules do not stipulate that shareholders could not be advised in such a capacity.

Does a serious issue of insider trading not arise in respect of the chief executive officer of IAG, Mr. Willie Walsh, given that he was in charge of Aer Lingus until recently and currently chairs the National Treasury Management Agency which has responsibility for NewERA, the holding company for State assets? Do Mr. Walsh's various roles not give rise to a serious conflict of interest? Should he not be told he cannot have a role in both areas? This is a serious issue which must be addressed.

In my view, IAG is seeking to secure Aer Lingus's brand, pre-clearance facility and Healthrow slots. The best way to protect the slots is to increase the State's shareholding from 25.1% to 30%. Will the Minister consider purchasing the additional 5% required to guarantee the slots in future? We should also bear in mind the bumper returns from Aer Lingus in January.

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