Seanad debates

Tuesday, 31 May 2005

Aviation Action Plan: Statements.

 

4:00 pm

Photo of Shane RossShane Ross (Independent)

I will finish this point and then conclude. We are informed that 51% of the airline is being sold. This is correct and the trade unions kick up about it. Where will the other 49% be? It will be in the hands of the State and the unions, the old alliance again. They are locked together and they will stick together. Where is the 51% going to be? It will be distributed everywhere in multiples, dozens, hundreds and maybe thousands of shareholders. Once it is distributed far and wide enough, who will be the largest shareholder? It will be the State, by a very long way. As the Minister proudly said, "Don't worry, lads, we will have 25%, a blocking shareholding." This is the code for the unions. The State will still be in control.

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