Friday 23 March 2018

Eight TDs demand independent valuation on Aer Lingus assets

Joe Costello
Joe Costello
Niall O'Connor

Niall O'Connor

An internal faction of Labour Party TDs have put forward four concrete demands which must be met before they are willing to support the takeover of Aer Lingus by IAG.

An emergency motion to the Labour Party national conference, put forward by eight TDs, shifts some of the focus away from the Dublin region.

The motion, obtained by the Irish Independent, calls for "meaningful, reliable and long-term guarantees" around the issues of connectivity and the valuable Heathrow slots.

The motion, if passed this weekend, would put serious pressure on Fine Gael not to support the sale of the State's shareholding in Aer Lingus.

The motion itself is being put forward by TDs Joe Costello, Michael McNamara, Eamonn Maloney, Sean Kenny, Dominic Hannigan, Brendan Ryan, Robert Dowds and John Lyons. The backbenchers call on the Government to reject the IAG bid, unless it addresses the following issues:

The serious concern that the present bid fails to reflect the true value of Aer Lingus and, therefore, an independent valuation of the assets of the company is required, in particular, a valuation of the 23 Heathrow slots;

The need for a firm commitment in the form of a Registered Employment Agreement to protect Aer Lingus workers' employment and conditions of employment.

Meaningful, reliable and long-term guarantees around connectivity and the Heathrow slots;

The need to articulate a comprehensive plan to promote Shannon and Cork airports, taking into account their distinct business models and impact on their individual regions.

The motion states Labour has always strived to "act in the best interests" of the company.

It notes Aer Lingus has "achieved in 2014 record high levels of revenue and passenger numbers, which are forecast to continue to grow solidly".

John Drennan's Guide to Politics - Spring 2015

The next election will change your life. In a special supplement with the Sunday Independent, John Drennan presents his guide to Irish politics.

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