Aer Lingus ownership - Time to revisit crippling debt

THERE are strong indications that the Government will not sell the State’s 25.1% stake in Aer Lingus to International Consolidated Airlines Group (IAG) even though the group, under former Aer Lingus chief executive Willie Walsh, has offered €1.36bn for the former national carrier.

For all sorts of reasons Aer Lingus is not seen entirely in the same hard light as other airlines in Ireland — despite the fact the carrier abused its monopoly for decades.

The carrier maintains links with Heathrow that are an essential factor in the economic development of the catchment areas of Shannon and Cork airports.

If those links are lost the region would be cast into a kind of modern twilight where ambition and enterprise were not supported by easy access to the world of business and its markets.

It is reassuring, so Taoiseach Enda Kenny told the Dáil, that issues like connectivity and jobs would have to be fully taken into account before a decision is reached.

This is as it should be, but it was equally reassuring when a previous government promised that Cork Airport would become an independent entity without any debt.

It may be history but the fact that that simple promise was shamelessly broken has stymied the airport and continues to hold the facility in an untenable grip.

Whatever happens to Aer Lingus, and its jewel-in-the-crown Heathrow slots, it is time to revisit the crippling legacy foisted on Cork Airport.