Gay Mitchell
Question:119 Mr. G. Mitchell asked the Minister for Transport if he has set out a date for the flotation of Aer Lingus; if he remains committed to such a flotation; and if he will make a statement on the matter. [21934/06]
View answerWednesday, 7 June 2006
Questions (102, 103, 104)
Bernard J. Durkan
Question:125 Mr. Durkan asked the Minister for Transport if he has finalised his plans for the future development of Aer Lingus; and if he will make a statement on the matter. [21826/06]
View answer
Michael D. Higgins
Question:157 Mr. M. Higgins asked the Minister for Transport the progress made on the partial sale of Aer Lingus; and the timescale now envisaged. [21970/06]
View answerWritten answers
I propose to take Questions Nos. 119, 125 and 157 together.
In May 2005, the Government agreed to the State reducing its shareholding in Aer Lingus whilst retaining a significant stake. The Government mandated myself and the Minister for Finance to appoint advisors to advise on the nature, scale and timing of an investment transaction and to revert to the Government with proposals for the implementation of the proposed transaction.
In accordance with that mandate, following consideration of the report prepared by our advisors, the Minister for Finance and I agreed proposals for the implementation of an investment transaction and those proposals were noted by the Government at its meeting on 4 April 2006. The transaction will take place by means of an initial public offering of shares in Aer Lingus. The transaction will be implemented as soon as possible taking into account market conditions and the regulatory requirements that need to be fulfilled before the IPO can take place.