Seán Fleming (Laois-Offaly, Fianna Fail) | Oireachtas source

I know my time is short but I wish to speak to the motion regarding the takeover of Aer Lingus by IAG. This is a sell-out of a national asset. Aer Lingus is a profitable and expanding company, with increasing passenger numbers and rising revenue and profits. That is the reason it is a target for this hostile takeover bid. The airline is growing and the question is why it should be sold or even for sale. It should not be for sale and the hostile takeover bid should have been rebuffed.

Lest we forget, this is an Irish-owned and controlled company. The Irish taxpayer owns 25%, the employees and pilots own approximately 5% and an Irish company, Ryanair, owns 30%. That means 60% of the company is Irish-owned and controlled but the Government is selling it out. The Minister is making out that we are only selling a little bit but his actions will mean part of the Irish-owned share will be sold. The partnership involving Ryanair and other private investors was working well, so it should not be sold. The guarantees that have been mentioned by the Minister cannot and will not hold because there is no legal mechanism to enforce them. When Aer Lingus is sold, it is sold. Has the Minister got that? He should not give us waffle about guarantees, as when it is sold, it is sold. If any Government tries to influence what happens in Aer Lingus, it will be told to butt out as these are commercial decisions in which the Government would have no business interfering.

This is a hostile offer to buy the company and the Government has acted in an unpatriotic fashion by going along with this. The Government could have said "No" and looked after Aer Lingus.

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