Finian McGrath (Dublin North Central, Independent)
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Question 129: To ask the Minister for Transport if the Government will buy back Aer Lingus shares in order to prevent a takeover. [32458/06]

Martin Cullen (Waterford, Fianna Fail)
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It was always the intention of the Government to maintain a significant minority shareholding in Aer Lingus for the purpose of ensuring that our strategic interests are protected and that remains the position.

A shareholding of 25.1% ensures that another company cannot acquire the 75% threshold that is required to force de-listing. It also means that the company's Memorandum and Articles of Association cannot be changed without the State's agreement. The State's shareholding is in fact 28.3%.

Even if another Company buys up a majority share, Aer Lingus would have to continue to operate on an independent basis in the best interests of all its shareholders. The Government does not currently propose to increase its shareholding.