Timmy Dooley (Clare, Fianna Fail) | Oireachtas source

The Minister is correct that I am fully aware of the current position. However, to paraphrase an advertisement, when it is gone, it is gone. If the State decides to sell its stake in Aer Lingus, it will have no capacity whatsoever to influence the direction of the company. A shareholding of 25% is significant. I accept there are limitations to what a minority shareholder can do but believe it is clear that IAG considers the State shareholding to be of strategic interest and clearly does not want the Minister or State on its state register. It could buy up the rest of the company at present without bothering with the State. It clearly regards having the State on its state register as an impediment. Therefore, the legally binding guarantees will have to be far more progressive and clever than what the Government is attempting to achieve, which is to push out this debate. I refer to an arrangement whereby ten years are sought, five are offered and seven are settled upon, and to the desire to move on to the next business on having secured such a supposedly great deal. I am not interested in the duration but in the nature of the deal and the potential to reverse any decision that might have a negative impact on the regions and the employment that is so dependent on direct access to Heathrow.

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