Fergal Browne (Fine Gael)

I thank the Minister for his reply, however, I am still not sure of the status of the slots. The Minister said categorically that Aer Lingus does not own but has grandfather rights to the slots. Will he clarify what exactly that term means?

I do not agree with the point made by Senator McDowell. The Labour Party is having a cut at us and I am surprised it does not accept that the Government may invest in Aer Lingus when it is going well but is not allowed to bail it out should it get into difficulty. It is no harm to have the option of privatisation open to us. It makes sense to privatise a company when it doing well and not when its back is against a wall. Fine Gael accepts that point and makes no apology for it.

I am delighted the Minister agrees to a minimum service. Should a private investor take over Aer Lingus, it will want to make a profit. Dublin Airport is the jewel in the crown whereas Shannon Airport is a burden and a new owner could route all flights to Dublin Airport, where it would be financially attractive, and the regional airports could be disadvantaged. I understand it would be difficult to lay down conditions on what must be done when selling the company to an investor. Perhaps it can be done. Let us take a hypothetical scenario, which I know will not happen, in which Ryanair buys Aer Lingus and then puts it out of business, making Ryanair a monopoly. While this is farfetched, it is a possibility and the reason we tabled an amendment seeking minimum levels of service.