Aer Lingus pensioners and sale
Senators renew calls for a debate on the Aer Lingus sale and urge that some proceeds support employees and deferred pensioners whose pensions were heavily reduced.
That is what I think. I am prepared to listen to the debate and perhaps change my mind on the matter. Of course, I am not a parent nor, despite recent developments, do I ever intend to become one.
With regard to Aer Lingus, can I reiterate in a slightly different form what Senator Darragh O’Brien said yesterday?
If Aer Lingus is sold and we get €340 million or whatever for it, part of the proceeds should be used to defray the pensions of Aer Lingus employees who were defrauded of their pensions. There is no other word for it. They were defrauded of their pensions while the company was profitable.
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I would very much like to see those people looked after. They have been left in an appalling state, which is utterly wrong.
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Like Senator Darragh O'Brien, I would like the Leader to arrange for a debate on the sale of Aer Lingus with the Minister for Transport, Tourism and Sport in attendance. Unfortunately, I cannot be here tomorrow, but I would like that debate to go ahead as I am sure my views will be articulated by my colleagues on this and the other side of the House. I agree with Senator Darragh O'Brien that something will have to be done for the Aer Lingus pensioners and deferred pensioners. I suggest a portion of the proceeds of the sale be used to provide for them.
I am not convinced about the reassurance provided with respect to the 1% golden share. I confess I have not gone through the detail of the report which was provided for the Oireachtas Library, but I will read it. Any sale of Aer Lingus would have significant implications for my constituents in County Clare. I would love to know how many of the 600 new jobs committed to by 2020 will be created in Shannon. It is welcomethat there is a seven-year commitment to retain the Heathrow Airport slots. I do not know in the long term if any golden share could prevent the sale of slots were there to be a worldwide economic recession in the aviation industry and a company's existence was dependent on restructuring, part of which would involve the sale of slots. I remain to be convinced of how powerful any 1% or one golden share would be in those circumstances. Further clarity is needed in that regard. The Minister could provide that clarity if he were to come to the House to debate the matter. I believe the commitment to retain existing services for five to seven years can be honoured. If IAG, a world conglomerate, makes such a commitment in writing, surely to God, unless the sky falls in on it, that commitment can be delivered on.
In terms of the company's potential future growth, I would like that to be spelt out in much more detail. I have heard plenty of comments over the years to the effect that we will explore the possibility and that we will enter negotiations with our international aviation partners to explore potential growth, but that does not represent a tangible or real commitment in terms of growth - it only represents potential growth. The only tangible, real commitment is that IAG will retain the existing winter and summer services at Shannon Airport. That is a very welcome development because we have seen a 30% increase in traffic.
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The Government should not try to shut down the Senator. This is a very important contribution.
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A debate on the issue in this House would be very welcome.