Vol. 554 No. 5
1293 Mr. Naughten asked the Minister for Transport the State or semi-State companies currently being considered for privatisation; the discussions he has had with management and staff in the bodies concerned; and if he will make a statement on the matter. [16710/02]
Following the crisis in Aer Lingus which ensued after the events of 11 September 2001, the previous Government decided to facilitate private sector and staff investment in the company to support its future development provided the survival plan is fully implemented.
In the context of the survival plan, a framework was agreed between all parties last December in relation to an increased staff shareholding. Talks in relation to an ESOP term sheet are nearing completion.
My primary concern in recent months has been to see a viable flexible Aer Lingus take shape, which is able to compete in the volatile and changing aviation market. In the near future, I will be looking at the funding requirements of the airline taking account of the Government decision on investment in the company.
Question No. 1294 answered with Question No. 1285.
