O’Rourke hits out at timing of Aer Rianta Bill

THE proposed bill to break up Aer Rianta is rushed, premature and not good legislation, leader of the Seanad, Senator Mary O’ Rourke said yesterday.

But despite her reservations, Ms O'Rourke said she would vote for it.

"I do not see why the legislation is warranted now we do not have the full picture and because we will not have the business plans for the three airports until April 2005," Ms O'Rourke said on RTÉ.

The Seanad was forced to delay its holidays next week to debate the Aer Rianta Bill on Tuesday and Wednesday to ensure all stages of it cleared the Oireachtas before the summer recess.

Ms O'Rourke would not comply with a request to debate the bill in the Seanad at 10pm last week because she said it would not give ample time to debate such important legislation.

And Ms O'Rourke also implied that the bill would have to be delayed by the autumn.

But after a conversation with Taoiseach Bertie Ahern, who told her the break-up of Aer Rianta was Government policy, Ms O'Rourke announced that the Seanad would be delaying its holidays to debate the Aer Rianta Bill this week.

Transport Minister Seamus Brennan is expected to face criticism when he appears before the Seanad on Wednesday about the feasibility of the plan.

Among the concerns that will be raised will be the confidential report sent by acting Aer Rianta chief executive Margaret Sweeney to the Department of Transport.

Ms Sweeney outlines her concerns that there may be a problem with re-financing the Aer Rianta loans once the company is split in three and they may become insolvent.

This is because the bond holders who have financed the recent large investments in the company may now have second thoughts, Ms Sweeney said.

But Mr Brennan last night rejected claims that there would be any problem with the bond holders once the company is split in three.