Billy Timmins
Question:54 Mr. Timmins asked the Minister for Public Enterprise the companies assisting her in any flotation plans she may have for State bodies under her control; and if she will make a statement on the matter. [4157/00]
Written Answers. - State Companies.
I refer the Deputy to my reply to Question No. 142 of 9 February 2000. The process referred to in the reply has not yet concluded.
Austin Deasy
Question:55 Mr. Deasy asked the Minister for Public Enterprise the public bodies under her control which she will privatise; and if she will give a timescale in each case. [4154/00]
I refer the Deputy to my reply to a similar question No. 90 on 3 November last, in which I outlined my policy and the position in relation to the public bodies under my aegis. Since my reply, there have been some developments.
With regard to Aer Rianta, the report submitted by that company on the future strategic direction of the Aer Rianta group as a whole, sought, inter alia, authorisation to prepare for an IPO. Advisers were appointed jointly by the Minister for Finance and myself to assist in the examination of Aer Rianta's report and to evaluate the full range of recommendations made to me by the board of Aer Rianta. The advisers' report has been completed and following consideration of recommendations, I will consult with my Cabinet colleagues in the normal way and then report to Government with specific recommendations with regard to the future of Aer Rianta.
In so far as Aer Lingus is concerned, the process leading to an initial public offering of shares in the airline is under way and depending on market conditions and the satisfactory finalisation at all preparatory stages for the IPO, it may be possible to complete the offering in the latter half of 2000 or early 2001.
In relation to An Post, the Government has given its approval for that company to initiate negotiations on a strategic alliance with a suitable postal operator in view of the changes in the postal sector in the EU.
Privatisation is not envisaged or planned for An Post.