Dick Spring
Question:13 Mr. Spring asked the Minister for Public Enterprise the reason she favours a minority IPO for Aer Rianta and if she will make a statement on the matter. [13171/01]
Written Answers - Aer Rianta.
My main concern in relation to whatever strategy is decided on for Aer Rianta is that it is the correct strategy, not just for the company itself and its employees but also for the users of the State airports. The advice of my advisers Warburg Dillon Read in this matter, having considered all the options, was that an IPO was the preferred route. They stated that, on balance, the IPO option best provides commercial flexibility and necessary access to new funds to ward off financial pressures and develop the company.
I concur with the view that private sector participation in Aer Rianta would be in the best interests of the company, in terms of addressing its funding needs in the long-term. I am, however, conscious that private sector involvement in Aer Rianta, whether through a minority IPO or otherwise, raises policy aspects which I and other Ministers need to reflect carefully upon.