I have been assured by Aer Lingus that no negotiations are ongoing between it and other companies regarding potential future investment in the company or a potential working agreement with the company. I have explained to the House on previous occasions that, in the light of the continuing turnaround in the company's finances and the continually changing environment, last July I asked the chairman of Aer Lingus to examine and report back to me on the future options for the company. The chairman furnished his report to me at a meeting on 16 September 2003 in which it was indicated that a private sector investment process should be initiated without delay.
I also commissioned an independent corporate finance consultant to examine the sale options for Aer Lingus, taking account of the Aer Lingus report. In summary, he has supported the case made by the chairman.
I recently advised my Cabinet colleagues of the current state of my deliberations concerning the future of Aer Lingus and in particular, my concerns relating to maintaining the status quo. I also advised that I will be reverting to Government on specific options for the company in the near future. My deliberations involve detailed consideration of the reports from Aer Lingus and the independent corporate finance consultant as well as a thorough examination of all options for the future of the company.
