Fergal Browne (Fine Gael)

That is the danger. Initially, the money invested in Aer Lingus came from taxpayers and we must ensure that taxpayers receive the return on their wise investment.

An issue of concern relates to the share rights of employees leaving Aer Lingus between 1 December 2003 and 31 March 2004. As the Minister of State is aware, the ESOP arrangement presupposed the passage of the legislation through the Houses more quickly than has been the case. There is a precedent involving the ESB in respect of which ESOP discussions began in 1996 but only concluded in 2000. The results formed part of the Electricity (Supply) (Amendment) Act 2001. Due to the delay between the agreement of the term sheet and the coming into force of the Act, a number of staff who would otherwise have qualified for participation in the ESOP had left employment in the board. To accommodate these staff members, the Act was passed in a form which allowed them to participate. I hope a similar arrangement can be put in place in the case of Aer Lingus. I will table an amendment on Committee Stage to ensure that employees who left Aer Lingus recently are not disadvantaged due to a delay in the legislative process.

Can the Minister of State clarify the status of the Heathrow landing slots? If privatisation is sanctioned, a very attractive feature of Aer Lingus will be its landing slots. BA has been suggested as a possible bidder for Aer Lingus, although that might not be true. How do we secure the landing slots for future use and ensure that the company which takes over Aer Lingus does not transfer them to another airline?

To conclude, Fine Gael welcomes the Bill broadly while urging that we proceed with caution. I will not refer to Shannon Airport where there are major issues as my colleague Senator Higgins will refer to it. Deputy Naughten referred to the break-up of Aer Rianta in the Dáil. I am aware the break-up of Aer Rianta is linked to the Bill. I urge the Minister to take into account the different circumstances in Shannon. Recent reports indicate that Shannon is losing routes but may be gaining in other areas. Dublin Airport is very attractive and is the main profit making airport. The danger with privatisation is that shareholders will ultimately look for profit. That could have knock-on consequences for other airports that may not be profitable. We will have to ensure an even balance.