Feargal Quinn (Independent)

I welcome the Minister. I have the odd feeling tonight of having gone to a funeral only to find myself saying, "Is this not the same poor fellow we buried four years ago?" That has never happened to me in real life and until today it had not happened to me in my 11 year career as a legislator. Talking about funerals is not inappropriate on this occasion. Many Members will remember the atmosphere in this House on a sunny day in June 2000 when we rushed through the Aer Lingus Bill 2000. I am sure the Leader remembers it well because she was the Minister responsible at the time. There was the air of a wake on that evening as Member after Member recalled their nostalgic memories of the Aer Lingus we had grown up to love and be proud of.

The purpose of that Bill was to approve the Government's decision to sell off the airline by means of an initial public offering, an IPO. There was some urgency about passing the Bill because it was felt there was a window of opportunity which had to be taken advantage of. Most of us felt that selling off the airline in that way was inevitable and that we did not have a choice in the matter. We saw it as the only way forward if the airline was to survive.

What do we find today? The airline we waked with such enthusiasm four years ago is not dead at all. It is not even at death's door. Despite having had a close brush with failure in the meantime, it has transformed itself, through a survival plan, into a highly successful and profitable company. What is more, it has succeeded in doing this while remaining in public ownership. Our reaction to this should be to congratulate everyone concerned. They deserve that. The Minister of State, Deputy McDaid, has been actively involved in this area in the past few years. I congratulate the management and, particularly, the staff of the airline. The staff have made many sacrifices to make the survival happen. I do not begrudge them the 15% share in the company, which is one of the purposes of the Bill.

We must look again at the need to sell off the airline. It may seem inconsistent to have been in favour of an IPO four years ago and now to ask questions about the issue of a sell-off. However, there is an important difference, which is a cardinal point of principle. When the Leader brought the previous Bill before us, we were presented with a done deal. The Government had approved the IPO, consultants had been engaged to start the process and make it happen and the purpose of the Bill was to give legislative sanction to that process. The House was asked to endorse a Government decision that had already been taken and it did so. It was, to us, the correct thing to do.

Time has passed, circumstances have changed and the idea of an IPO died a death along the way. So did the Aer Lingus Bill 2000. We are now being asked to buy a horse of a different colour. The question of selling the airline has been put on the table again, not through an IPO but probably through a trade sale. However, no Government decision on this matter has yet been taken. Let me say that again. No Government decision on this matter has yet been taken. The Minister for Transport has not decided what is the right way forward. Until he decides, the Government as a whole will not become involved. In discussions about the matter the Minister has freely acknowledged there is much to be said on both sides of the issue.

The question of the future of the slots Aer Lingus holds at Heathrow has been raised repeatedly. They are an important national asset but the country does not own them. Aer Lingus owns them.