Séamus Brennan (Dublin South, Fianna Fail)

In reply to Senator McDowell, there will be a memo and articles of association. This will lay out the purpose, objectives and aims of the plc, which will be Shannon, Cork and Dublin. This is the normal aims and objectives aspect of any company.

On the business strategy, the board will have to devise this itself. They are aware in Shannon that the EU-USA open skies policy talks are a backdrop. They are aware there must be some agreement with Aer Lingus so that it will continue to service Shannon Airport, which is my wish. They are aware that section 8 of the Bill requires them to negotiate with Dublin and Cork on other issues in the interim. The people who have agreed to serve on the Shannon board are acutely aware of these business issues. These issues exist regardless of the policy; they will not go away. If I were never standing here with this policy, these issues would exist. The question has always been who is best equipped to tackle them. I have made it clear that I believe this approach is the best way to tackle the issues.

I am not denying there are serious issues in regard to all airports, particularly Shannon, but these can be tackled. We can work out something on the US-EU stopover aspect. I am determined to get a good deal which will give Shannon some comfort, while allowing Aer Lingus to expand to new routes and new destinations. I am confident that, in discussing the future of Aer Lingus, we can build into it an understanding that whatever direction the ownership of Aer Lingus takes in future, Shannon will be taken into account in any arrangement arrived at. It would be a good time to make such an arrangement. We can build these aspects into whatever final settlements are made on a whole range of issues.

I will ask the board to address each of these issues, particularly the issue of growing passenger numbers. The chairman reckons he can reach 4 million from the current 2 million, and the board will have to work out a strategy to attract these extra passengers to the airport. The board must also address how to negotiate and work with Government on the USA-EU talks and Aer Lingus's involvement in Shannon Airport.

Senator Browne asked what would happen with Aer Rianta International and so on. I have no doubt the three boards will be very practical. They will have to talk to each other about adhering to company law, which they are required to abide by and which delays the distribution of assets because of the insufficiency of reserves at the moment. Shannon Airport built ARI. I said on many occasions it is my wish that, consistent with company law, trying to deal with dividend issues and the restrictions involved, ARI is a Shannon product and should remain as such. The boards can work out between themselves whatever is possible within that statement.