Seán Crowe (Dublin South West, Sinn Fein)
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Question 448: To ask the Minister for Transport the amount Government advisors have been paid to date in regard to the privatisation of Aer Lingus. [32984/06]

Martin Cullen (Waterford, Fianna Fail)
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The final accounts and invoices of the advisers, and associated services, retained by the Government for the Aer Lingus IPO are currently being processed. The total cost of such services will be approximately €18 million.

The bulk of the total IPO costs relates to fees payable to the underwriters and financial advisers. These fees were capped at 1.9% of gross proceeds of the IPO, which compares favourably with market norms. The Government's share of all IPO costs will be €6 million, the majority of which remains to be paid pending receipt of invoices. The balance of the costs will be borne by Aer Lingus.