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

As I stated previously, as Aer Lingus remains in an offer period under the Irish takeover rules, I am constrained in what I can say publicly on the matter, as these rules apply to significant shareholders in some regards as well as offerors and offeree companies during an offer period. However, I did make a detailed statement clarifying the Government's position on the matter last month.

While acknowledging the details and clarifications which both IAG and Aer Lingus have offered since IAG announced its initial proposal to acquire Aer Lingus, it is the Government's view that the IAG proposal does not at present provide a basis on which we could provide an irrevocable commitment to accept an offer. Further consideration of any IAG proposals will be based on having greater clarity from IAG on the overall employment prospects on the basis of the proposals received, with particular reference to the timeframe within which net additional employment would be created; firm commitments on plans for growing Aer Lingus' transatlantic business; and plans to grow Aer Lingus' routes at Cork and Shannon and to enhance the Knock-Gatwick service. The Government also requires a longer period on the commitments related to Heathrow. The nature and acceptability of oversight mechanisms on the Heathrow slots and routes needs to be confirmed. These would also be subject to any EU considerations.

As I stated last week, the Government, in line with stated policy, remains open to considering any improved proposal. On Wednesday last, the Government's interdepartmental steering group held a further meeting with representatives from the consolidated International Airlines Group at its request. Further meetings are expected.

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