The Government has considered the various options open to it in terms of generating revenue from the sale of state assets — including the recommendations of the State Assets Review Group (McCarthy Report). That Report had recommended that the Government dispose of its shareholding in Aer Lingus "as soon as is opportune" but no decision has yet been taken by the Government on a disposal of the State's shareholding in the company.
In addition to the Government's decision to sell a minority stake in the ESB, the Government also agreed that it is prepared, in principle, to undertake further asset sales, and a process has been initiated to consider a number of potential assets in this context. The State's shareholding in Aer Lingus is being considered as part of this process. A Group, led by the Department of Public Expenditure & Reform and including my Department, other relevant Departments and the NTMA, is considering possibilities in this regard and will advise the Government in relation to the appropriate valuations to be placed on the assets in question, and on the most appropriate method of disposal, likely timeframe and economic impact of any such disposal, in order to inform any further decisions that the Government may wish to make in this regard.
It should be noted that the Government only owns 25% of the company's share capital and nothing prevents any airline or any other potential investor from acquiring a share in the company from the owners of the other 75% of the company's share capital.