News

The Oireachtas Transport Committee will hold a special meeting tomorrow (Thursday) to discuss the impact of the potential sale of Aer Lingus. Appearing before the committee in Leinster House will be representatives from: The Irish Airline Pilots Association, The Central Representatives Council of union groups within Aer Lingus, Dublin Chamber of Commerce, Cork Chamber of Commerce, Shannon Chamber of Commerce, Shannon Group PLC, Limerick Chamber of Commerce,IDA Ireland and SIPTU. Chairman, John O’Mahony, said, “Any proposed sale of the State’s stake in Aer Lingus would be of significant interest to passengers and to various interested stakeholder groups, including tourism, business and commerce groups and those working in the aviation industry in Ireland. “Tomorrow we will have a chance to discuss the implications of any possible sale of the Governmen’s stake in the airline in more detail, as well as the impact of any sale for the taxpayer. Committee members will want to address concerns about possible job losses and routes …

The Central Bank’s decision not to proceed with a proposed 20% mortgage deposit has brought a collective sigh of relief for many people planning to buy their first home. “The decision by the Central Bank to revise its proposal for a 20% deposit and to make it easier for first time buyers to save for a deposit is a good one. For young people starting out in life trying to save for a deposit on a home can be a difficult task and this will help them to buy their first home,” commented Clare TD, Joe Carey. Continuing, he said, “The majority of homes in County Clare fall under the €220,000 level, which requires a 10% deposit. This will mean for most first time buyers they will now only need a 10% deposit. For other more expensive homes a further 20% deposit will be required for any amount above this level. “This will put in place a set of controls …

Internationally acclaimed  Clare musician Sharon Shannon and her manager, John Dunford have consented before the Master of the High Court to a judgment for €520,000 being registered against them. Mr Dunford, as well as acting as Ms Shannon’s manager, is a well known music producer. Permanent TSB sought the judgment, both jointly and severally, against the pair after they allegedly failed to make repayments on a business loan taken out with the bank in 2006. In its proceedings, Irish Life and Permanent Plc, trading as Permanent TSB Plc said Ms Shannon, Devon Gardens, Salthill Co Galway and Mr Dunford, Corbawn Shankill, Dublin borrowed €402,000 by way of an Endowment Residential Business Loan from it in November 2006. The loan was to be repaid by way of month installments of just over €1,650 over a period of 20 years. In June 2010, the banks said the pair failed to make two monthly repayments in a row. Under the terms and conditions of …

The Irish Travel Agents Association (ITAA) has voiced concerns regarding the proposed takeover of Aer Lingus by IAG. Pat Dawson, CEO of the ITAA said, “We would have some reservations with regard to the proposed takeover of Aer Lingus by IAG. It is crucial that the existing slots between Dublin, Cork, Shannon and Heathrow Airport are protected and maintained. We realise that a long term agreement to this effect may be difficult to secure, but everything that can be done should be done now”. Mr Dawson continued, “The ITAA would see value for money and greater choice for Irish consumers as being a vital part of the negotiations and central to any agreement reached. It is our opinion that the Aer Lingus brand and all that it encompasses is worth more than the €1.35 billion currently proposed. Aer Lingus is a worldwide brand viewed by many as providing a friendly and safe service both at home and abroad. “We would …

Minister for Transport, Paschal Donohoe has briefed Cabinet colleagues on the approaches that have been made to the board of Aer Lingus by International Airlines Group (IAG) – each of which is in the public domain. Outlining the current situation, he said, “The Government notes the statement by the Board of Aer Lingus this morning that it has indicated to IAG that the financial terms of the latest proposal are at a level which it would be willing to recommend, subject to being satisfied with the manner in which IAG proposes to address the interests of relevant parties. “The process involving a potential sale of Aer Lingus to IAG is in the early stages. It is important to note that IAG has made a proposal to make an offer and that no formal offer has yet been made. “At this point I want to again emphasise that proposals, which involve the potential sale of the State’s Aer Lingus shares, will …

Retention of slots for Irish airports must be pre-requisite in any IAG take-over of Aer Lingus, a leading industrial figure in Shannon has warned. Mr Ken Sullivan, an executive director of Element Six, said that the ability to attract further investment into the region will be undermined by any threat to Shannon-Heathrow slots. He said that Government must make retention of slots for Shannon, as well as Cork and Dublin, a prerequisite for its agreement to any deal. “This region is every bit as dependent now on Shannon-Heathrow services as it was back in 2007 when the Shannon slots were moved temporarily to Belfast. The business community here united in opposition to that move and this time around the threat is not just to Shannon but also Cork and Dublin,” said Mr Sullivan, who was vice chairman of the Atlantic Connectivity Alliance – the group of business and tourism representatives that came together to seek the restoration of Shannon Heathrow …

Reverend Canon Bob Hanna has had a driving ban lifted against him, having appealed his conviction for speeding at Monday’s sitting of Ennis Circuit Court. The Church of Ireland cleric had received a six-month driving ban for speeding on the N18 at Bunratty, where he was travelling at 135km per hour in a 100km zone on April 17 last. He was convicted in his absence at an Ennis District Court sitting in December and received a six month driving ban and €500 fine. Canon Hanna appealed the conviction and at Ennis Circuit Court on Monday his appeal was heard.  It was outlined that the defendant was “abusive and aggressive” towards the garda who detected the speeding offence and a written apology was proferred to the court. Presiding Judge Tom O’Donnell ordered that the driving ban be lifted and he reduced the €500  fine to €250.

This Tuesday morning’s Cabinet meeting could have a significant impact on the future of Shannon Airport. The Board of Aer Lingus has recommend shareholders accept a €1.3 billion takeover offer from IAG. The potential deal will be discussed by ministers at Cabinet this morning, and Transport Minister Paschal Donohue says maintaining employment and connectivity is of the utmost importance. There have been concerns in this region that any sale could damage the local economy, in the event that the new owners move London Heathrow landing slots away from Shannon. Trade unions maintain up to 1,200 jobs could be put at risk if any sale goes through, and are calling on the Government to seek guarantees this won’t occur. Also mentioned this morning, is the importance of retaining the Aer Lingus brand in any takeover scenario.