Billy Kelleher (Cork North Central, Fianna Fail) | Oireachtas source

When one examines the statistics, one sees that Aer Lingus carried 11.1 million passengers in 2014. I remind the Minister of State, as he keeps reminding us, that we have gone through a very difficult recession, both nationally and internationally. It was one of the worst among OECD countries, yet Aer Lingus increased passenger numbers. In recent years, its passenger number has increased remarkably and it outperformed IAG, with a 19% increase in the passenger number since 2007. Since that year, it has almost increased its passenger number by one fifth. This was during one of the most difficult international recessions. It has outperformed all its rivals. The company is working and competing against one of the most aggressive airlines in the world, Ryanair. Despite the competition with Ryanair, both companies grow. We are now told, however, that unless we sell the 25% stake, Aer Lingus will fall over, shrink as a company and not be able to perform in the international market. That is patently not the case because all the evidence to date shows quite clearly that the company is able to survive and grow.

Deputy John Lyons said that the option in front of the House was the best and only one. Let us be very clear: there are two options in front of the House tonight, one being to sell and the other being not to sell. Nobody is hamstrung in this House by having only one option with regard to the sale of the 25% stake in Aer Lingus. There are two options and the deal can be rejected.

Let us be very honest with ourselves. We have been criticised over the fact that 75% of the company was sold in 2006. The reason for relinquishing Government ownership in 2006 was to remove the operational management of the company from the vagaries of everyday politics. We all know that when politics is completely involved in the running of any company, it creates its own inherent difficulties as there are competing interests. The interests are not always those of the company. Sometimes politicians are known to put their own interests before those of a company or even the national interest. They do, and they are doing it again here tonight.

The remaining strategic share was to ensure that Aer Lingus would remain as an operational entity and not be acquired by a rival in an anti-competitive manoeuvre or be stripped of its assets for short-term balance-sheet gain. What is happening? The proceeds of the sale are to go into the strategic investment fund. In the next number of months, this will effectively be an election slush fund. We know what will happen. The money will be in the strategic investment fund and the roll-out of promises will occur. Broadband to every house, investment in connectivity, and investment in ports and roads will be promised. We will have it all.

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