Tom Hayes (Tipperary South, Fine Gael)
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Question 118: To ask the Minister for Transport if he will report more fully on the IPO process proposed for Aer Lingus, including the timescale and the process by which shares will be offered for sale; and if he will make a statement on the matter. [16272/06]

Damien English (Meath, Fine Gael)
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Question 126: To ask the Minister for Transport his position regarding the partial privatisation of Aer Lingus; his views on whether the airline will receive private sector investment by summer 2006; and if he will make a statement on the matter. [16200/06]

Martin Cullen (Waterford, Fianna Fail)
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I propose to take Questions Nos. 118 and 126 together.

In May 2005, the Government agreed to the State disposing of a majority shareholding in Aer Lingus in order to facilitate equity investment in the company. The Government mandated myself and the Minister for Finance to appoint advisers to advise on the nature, scale and timing of an investment transaction and to revert to Government with proposals for the implementation of an investment transaction.

In accordance with that mandate, following consideration of the report prepared by our advisors, the Minister for Finance and I agreed proposals for the implementation of an investment transaction and those proposals were noted by Government at its meeting on 4 April 2006. The investment transaction will take place by means of an initial public offering of shares in Aer Lingus on the Stock exchange. Our advisers have been mandated to prepare for a transaction as soon as possible taking account of stock exchange rules and market conditions.