State may sell stake in airline
independent.ie
THE future of the Government's shareholding in Aer Lingus is to be called into question when the Cabinet meets this Wednesday.
At least one senior minister is expected to call for clarification on the Government's 25.3 per cent stake in the airline, and whether it should be retained or sold in the light of the Government's stated policy of non-intervention in the affairs of the now-privatised company.
Speaking to the Sunday Independent last night, an informed Government source said: "Ministers will be asking the obvious questions on Wednesday. Why are we holding a 25 per cent share? What does it mean, and what is the point if we are not to intervene in the decision-making process of the company to protect the country's strategic national interests?"
At the time of the Aer Lingus privatisation last year, former Transport Minister Martin Cullen explained the rationale for retaining a so-called 'golden share', insisting that it would allow the Government to block any attempt by Aer Lingus to dilute the links between Shannon, Cork and Dublin airports with Heathrow.
Since Aer Lingus announced its intention to shift its key Heathrow slots from Shannon to Belfast, the Government has refused to intervene, claiming it would be inappropriate to interfere in the now-privatised firm.
