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Joint Oireachtas Committee on Transport, Tourism and Sport: Update on Issues in Aviation Sector: Engagement with Mr. Willie Walsh (16 Nov 2022)

Ruairí Ó Murchú: I apologise as I will probably repeat a lot of what has been said already, some of which I have been in the room for but most of which I have not. Mr. Walsh has provided a general idea of modelling where the industry will be. We all know we are in an energy crisis meets cost-of-living crisis. Mr. Walsh has already talked about some of the specific issues with refineries, yada-yada-yada....

Joint Oireachtas Committee on Transport, Tourism and Sport: Update on Issues in Aviation Sector: Engagement with Mr. Willie Walsh (16 Nov 2022)

Ruairí Ó Murchú: Sorry, I had that point written down and I probably should have mentioned it. There is the impact of price but there are also supply issues caused by the Russian invasion.

Joint Oireachtas Committee on Transport, Tourism and Sport: Update on Issues in Aviation Sector: Engagement with Mr. Willie Walsh (16 Nov 2022)

Ruairí Ó Murchú: Does Mr. Walsh foresee the price regulating itself - for want of a better term - without the interference of external factors?

Joint Oireachtas Committee on Transport, Tourism and Sport: Update on Issues in Aviation Sector: Engagement with Mr. Willie Walsh (16 Nov 2022)

Ruairí Ó Murchú: I get it and I imagine Mr. Walsh has multiple models.

Joint Oireachtas Committee on Transport, Tourism and Sport: Update on Issues in Aviation Sector: Engagement with Mr. Willie Walsh (16 Nov 2022)

Ruairí Ó Murchú: The problem is maintaining that, but I do not know how we can.

Joint Oireachtas Committee on Transport, Tourism and Sport: Update on Issues in Aviation Sector: Engagement with Mr. Willie Walsh (16 Nov 2022)

Ruairí Ó Murchú: It was different.

Joint Oireachtas Committee on Transport, Tourism and Sport: Update on Issues in Aviation Sector: Engagement with Mr. Willie Walsh (16 Nov 2022)

Ruairí Ó Murchú: There was probably an element of emigration from places, such as Ireland.

Joint Oireachtas Committee on Transport, Tourism and Sport: Update on Issues in Aviation Sector: Engagement with Mr. Willie Walsh (16 Nov 2022)

Ruairí Ó Murchú: People still need to travel.

Joint Oireachtas Committee on Transport, Tourism and Sport: Update on Issues in Aviation Sector: Engagement with Mr. Willie Walsh (16 Nov 2022)

Ruairí Ó Murchú: I get that. There is an element of what I will loosely term the western world having to get its act together on that. It is not completely applicable but there is the argument that after 11 September 2001, America ensured the free flow of credit because it did not want the attack to lead to a global recession.

Joint Oireachtas Committee on Transport, Tourism and Sport: Update on Issues in Aviation Sector: Engagement with Mr. Willie Walsh (16 Nov 2022)

Ruairí Ó Murchú: That said, the money all went into the wrong products based on property. Somebody, I think it was Bill Clinton, lamented that the money had not gone into renewables but we are where we are. I do not expect Mr. Walsh to answer on what the western world needs to do but let us get on with it quickly. As I think I have said before, it is one of the only weapons Vladimir Putin has that is...

Joint Oireachtas Committee on Transport, Tourism and Sport: Update on Issues in Aviation Sector: Engagement with Mr. Willie Walsh (16 Nov 2022)

Ruairí Ó Murchú: People are talking about green hydrogen but also about hydrotreated vegetable oil, HVO, and biogas. I am not sure because anybody who is going to come and have a conversation generally has skin in the game and they are going to sell you the best story.

Joint Oireachtas Committee on Transport, Tourism and Sport: Update on Issues in Aviation Sector: Engagement with Mr. Willie Walsh (16 Nov 2022)

Ruairí Ó Murchú: Yes, and that is what I was going to ask.

Joint Oireachtas Committee on Transport, Tourism and Sport: Update on Issues in Aviation Sector: Engagement with Mr. Willie Walsh (16 Nov 2022)

Ruairí Ó Murchú: I get that.

Joint Oireachtas Committee on Transport, Tourism and Sport: Update on Issues in Aviation Sector: Engagement with Mr. Willie Walsh (16 Nov 2022)

Ruairí Ó Murchú: I suppose the smaller it is, the better, with batteries and so on.

Joint Oireachtas Committee on Transport, Tourism and Sport: Update on Issues in Aviation Sector: Engagement with Mr. Willie Walsh (16 Nov 2022)

Ruairí Ó Murchú: I accept that. It probably sounded like I was oversimplifying. I just mean that is the sphere we are in. Who knows what research is going to pay off? That is the reality but we have no choice but to do it, given the circumstances. That is a fair point when you start looking at the figures properly. When you get down to it it is like every problem in that people try to aim at the middle...

Joint Oireachtas Committee on Transport, Tourism and Sport: Update on Issues in Aviation Sector: Engagement with Mr. Willie Walsh (16 Nov 2022)

Ruairí Ó Murchú: That is a different kettle of fish.

Joint Oireachtas Committee on Transport, Tourism and Sport: Update on Issues in Aviation Sector: Engagement with Mr. Willie Walsh (16 Nov 2022)

Ruairí Ó Murchú: How could that be operated tomorrow?

Joint Oireachtas Committee on Transport, Tourism and Sport: Update on Issues in Aviation Sector: Engagement with Mr. Willie Walsh (16 Nov 2022)

Ruairí Ó Murchú: We are doing it because it is what we always did.

Joint Oireachtas Committee on Transport, Tourism and Sport: Update on Issues in Aviation Sector: Engagement with Mr. Willie Walsh (16 Nov 2022)

Ruairí Ó Murchú: We need the EU-plus to sit around the table and come to a decision on it.

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