Derek McDowell (Labour)

I would like to use these amendments to tease out some of the viability issues on which we touched earlier, in particular the capital reserves to which the Minister referred at some length. What is the situation? My understanding is that it is not possible to distribute any of the assets from Aer Rianta, as it is constituted, to Cork and Shannon because the reserves do not exist to permit that under EU law. If that is to change and the capital reserves are to be increased it will require drastic liquidation of assets on the part of the company.

To be blunt, it will require, as the Minister said, disposal or realisation of assets. Does it in effect require the sale of the Great Southern Hotels or does the Minister envisage that it will be confined to the foreign assets of Aer Rianta International, as he said in our earlier discussion? These matters impinge on viability. It is critically important that before this process advances too far the boards and the Minister are satisfied about viability. That is why we have provided that the word be included in the Act when passed. Will the Minister comment on the situation regarding capital reserves?