Aer Lingus buyout - Public don’t want another Eircom fiasco

Senior managers at Aer Lingus have asked the Department of Transportation for permission to develop investment proposals with a view to a management buyout. It is believed that the Government is likely to look favourably on such proposals.

The public has already been stung by the handling of the privatisation of Eircom. State assets were sold in a manner that afforded enormous profits for a few people.

A great many citizens were encouraged to invest in the project out of a sense patriotism, but they were then disgracefully treated and this has done enormous damage to public confidence.

Aer Lingus was designed to operate for the good of the nation. It was nurtured as a national flag carrier. If it is to be sold off, this should only be in the greater national interest, not the interest of a select few.

With the Eircom debacle still fresh in the minds of people, as well as other disquieting developments following the privatisation of Irish Sugar and Irish Steel, the Government must get this one right.

Proper guarantees must be secured not only for the company's staff but, more importantly, for its owners the Irish people.