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Seanad
‹ Order of Business

Government position on Aer Lingus

Summary

The Leader says Aer Lingus’s board rejected IAG’s preliminary offer as undervaluing the company and that the Government will manage its stake to protect State interests and maximise value.

Senator Paschal Mooney referred to women in government. There are more women in the Government than was the case in any previous Administration.

The Senator also asked that we clarify the Government's decision on Aer Lingus. The Minister for Transport, Tourism and Sport noted the confirmation by the board of Aer Lingus that it had received a preliminary proposal from the International Consolidated Airlines Group and that it had rejected it on the basis that it fundamentally undervalued the company. This is a matter for the board, in the first instance, and the Minister notes its advice to shareholders to take no action. The Government has indicated publicly that it remains open to the sale of its minority shareholding in Aer Lingus but only when market conditions are favourable and on terms and at a price that are acceptable to it.

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That is precisely the point I am making. The Government is selling off a strategic asset.

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In the meantime the Government is continuing to manage its shareholding in a responsible manner to protect the State's interests and with the aim of maximising the value of the shareholding. That is the position of the Government on the matter.

Senators Aideen Hayden and Terry Leyden referred to the protection of life during pregnancy legislation. I am sure we will have another debate on the matter in the new year.

Senators Aideen Hayden and Sean D. Barrett welcomed the Taoiseach's efforts to get representatives of the ECB to attend the banking inquiry. The Taoiseach has indicated that he will renew his efforts in this regard in the coming weeks.

Senator Aideen Hayden also requested a debate on the issue of solidarity among European nations and in the European Union in general. I am sure the Minister of State at the Department of the Taoiseach, Deputy Dara Murphy, would be willing to come before the House to debate the issue. The European Commission's work programme became available in the past week. I have put together a sub-committee to choose items from the programme for debate in the Seanad on a regular basis throughout next year.

Senator Denis O'Donovan requested the Minister for Justice and Equality, Deputy Frances Fitzgerald, to come before the House to provide it with a progress report on the reform of her Department and plans to reform An Garda Síochána. I am sure the Minister would be quite willing to come to debate these matters with us.

Senator Sean D. Barrett referred to the vote at the end of Second Stage of the Water Services Bill. As I informed Senator Thomas Byrne, it is very unfair to target Members because of the way they voted. Targeting individual Members will not help anyone's cause.

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