Transport Minister, Paschal Donohoe offered the Government's first public statement on the possible sale of Aer Lingus to IAG in the Dáil last night. He spoke in response to concerns raised by a number of TD's regarding the possible sale of the company, and how it could affect Irish transport.

Minister Donohoe said that the Government would take into account three issues (other than the size of the offer) when considering a deal:

• "The impact any change in ownership of Aer Lingus would have on the connectivity of Ireland."
• "The impact it would have on competition for passengers to and from Irish airports."
• "The impact on the bases from which Aer Lingus currently operates - namely our State and regional airports."

Commenting specifically on the issue of flights to Heathrow he acknowledged that a "secondary market" exists in congested airport that sees airlines trading airport slots.

For this reason there is a special mechanism built into the Aer Lingus management structure, it means that "any proposed disposal of Heathrow slots" would need to be approved by 25 percent of the shareholders. This is the Government stake - plus 5 percent.

The State cannot veto these deals - but it does have a sizable say on whether such a deal would be successful.

He adds that this clause relates to the disposal of slots - the airline is free to change the routes that it flies to from these slots.

In 2012 the Government included its stake in Aer Lingus among the assets to be sold under the State Asset Disposal scheme.

Since then a series of hostile takeover bids from Ryanair have been rejected. In response to these proposed deals, the Government indicated that it, "would not be prepared to sell the shareholding in circumstances which could significantly impact on competition and connectivity in the Irish market."

Paschal Donohoe concluded: "Such considerations would also be foremost in our minds if a further offer is made for the company.

Ryanair own 29.8 percent of the company - Irish Independent report that its former chief financial officer, Howard Millar - who is set to join the board of Ryanair - has said that its stake has been, and still is up for sale.