Paul Connaughton Snr (Galway East, Fine Gael)
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Question 122: To ask the Minister for Transport the progress being made with regard to the partial sale of Aer Lingus; when such a sale will occur; and if he will make a statement on the matter. [28836/05]

Brian O'Shea (Waterford, Labour)
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Question 142: To ask the Minister for Transport the position regarding the sale of Aer Lingus; if he has decided on the method by which the State holding will be diluted; and the timescale to which he is working. [29080/05]

Bernard Durkan (Kildare North, Fine Gael)
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Question 250: To ask the Minister for Transport the position regarding the future of Aer Lingus; if recent arrangements have been entered into in this regard; and if he will make a statement on the matter. [29793/05]

Martin Cullen (Waterford, Fianna Fail)
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I propose to take Questions Nos. 122, 142 and 250 together.

In its decision of 18 May, the Government agreed to the State disposing of a majority shareholding in Aer Lingus and retaining a stake of at least 25% to protect strategic interests, provided that both myself and the Minister for Finance are satisfied that this level of disposal is warranted on foot of the analysis prepared by the Departments' advisers for the transaction. Following a competitive tender process, UBS and AIB Capital Markets were appointed to provide financial advice and assistance to both myself and the Minister for Finance on an Aer Lingus sale and-or investment transaction. William Fry Solicitors and Freshfields Bruckhaus Deringer were appointed as legal advisers for the assignment.

Work is already under way on phase 1 of the assignment which is expected to be completed by 1 December 2005. This phase involves recommending the most appropriate transaction mechanism, including advice on its size, type and timing, which will then be considered by myself and the Minister for Finance. Phase 2 of the advisers' assignment will involve the execution of the chosen transaction.