Government must oppose the sale to protect future economic growth
Limerick Chamber has today (27th January 2015) warned government that the short-term monetary gain from the sale of Aer Lingus has the potential to do much more long term detrimental damage to our country’s employment rates and economic well-being.
Speaking about its concerns, Limerick Chamber Interim CEO Dr. Órlaith Borthwick said “Connectivity to Heathrow is a prerequisite to doing business in our global economy. This makes Aer Lingus’ slots at Heathrow national assets of strategic importance. The government holds a 25.1% stake in Aer Lingus. Protecting Ireland’s access to these slots is why government held onto a share in the company when it was floated in 2006; the arguments which informed that decision are as valid now as they were then.”
Limerick Chamber also highlighted the unique geographic location of Ireland as the only island on the periphery of Europe that does not have land access. The business representative body warned that Irish connectivity should be paramount in any decision made stating that “The frequency of hub connectivity and direct access to North America is a unique selling point which has successfully attracted inward investment to Ireland. Any potential reduction in this connectivity will have a detrimental impact, not only on foreign owned firms who operate here, but on our indigenous firms as they seek to expand and internationalise into new markets,” continued Dr. Borthwick.
“Ireland’s economic recovery and growth in the last number of years is underpinned solely by strongly performing export growth resulting in a continued trade surplus. The economic impact of any loss of Aer Lingus connectivity puts this at risk and Limerick Chamber on behalf of the business community, who rely on international connectivity to support jobs, call on the government to oppose the sale,” concluded Dr. Borthwick.
Ends
For more information contact Edwina Gore e| egore@limerickchamber.ie or t|061-415180
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