Sale of State Assets

Dáil Éireann Debate, Tuesday - 3 July 2012

Tuesday, 3 July 2012

Ceisteanna (138, 139, 140, 141)

Clare Daly

Ceist:

134 Deputy Clare Daly asked the Minister for Transport, Tourism and Sport his views on Ryanair’s attempt to take a majority stake in Aer Lingus; and if he will make a statement on the matter. [32105/12]

Gerry Adams

Ceist:

156 Deputy Gerry Adams asked the Minister for Transport, Tourism and Sport if he will provide an update on his plans to sell off Aer Lingus; and the recent offer from another Irish-based company. [32094/12]

Bernard J. Durkan

Ceist:

728 Deputy Bernard J. Durkan asked the Minister for Transport, Tourism and Sport his preferred options in the context of the future structure and ownership of Aer Lingus; if he intends to exercise any particular options available to him; and if he will make a statement on the matter. [32395/12]

Bernard J. Durkan

Ceist:

729 Deputy Bernard J. Durkan asked the Minister for Transport, Tourism and Sport the extent to which he has determined a policy that is in the best interest of air travellers, the Irish taxpayer and the need to comply with national and international legislation in the context of the future ownership of Aer Lingus; and if he will make a statement on the matter. [32396/12]

Freagraí scríofa

Minister for Transport, Tourism and Sport (Deputy Leo Varadkar)

I propose to take Questions Nos. 134, 156, 728 and 729 together.

I refer the Deputies to my response to Priority Question 84.

These questions relate to Ryanair's proposed takeover bid for Aer Lingus. In an announcement to the Irish Stock Exchange on 19th June, the board of Ryanair announced its intention to make an all cash offer for 100% of the share captial of Aer Lingus. Under the Takeover Rules, Ryanair must issue its formal offer document to Aer Lingus shareholders by 17th July setting out in detail the terms of its offer. As the Government is a minority shareholder in Aer Lingus, under Irish Takeover Panel Rules, there are restrictions on what any member of the Government can say in relation to the proposed offer at this time. For the moment, like all shareholders, the Government will await the formal offer from Ryanair and also the response of the Board of Aer Lingus.

In considering the formal offer, when it is made, the Government will take account of four factors:

1. The views of the regulatory authorities in relation to any bid;

2. What is best for passengers in terms of connectivity and air fares;

3. What is best for taxpayers in terms of the price we can get for the stake;

4. What is best for the economy overall in terms of competitive access to services in and out of Ireland.