Madam, - The ongoing debate surrounding the Government's plan to break up Aer Rianta has been marked by a plethora of statements, claims and counter-claims, reports, analysis, leaks and threats.
The Government and its spokespersons vie, on a daily basis, with the unions and other interest groups for media space to hype their take on the project and quote "reports" ad nauseam. The truth is that there are no "reports" in circulation as the term is properly understood. What is out there are a series of working papers, heavily caveated, produced by one set of consultants and a critical analysis of these developed by another set of consultants. None of this material constitutes, in any way, a proper economic analysis or forecast of the likely outcome of the break-up.
The one stakeholder in this process that has not contributed to the public waving of documents is the board of Aer Rianta, and this is as it should be.
The board is charged with carrying out its fiduciary and governance responsibilities towards the company on behalf of its shareholder, the Government. As part of this remit, if and when the Government presents it with concrete proposals for change, it will be required to consider these in the context of its legal and financial obligations to provide responsible oversight and decision-making on behalf of all the company stakeholders. In making these decisions, it will rely, inter alia, on data and projections which it has commissioned from the company executive and its advisers.
I believe it important to put on record that even though the board of Aer Rianta has not been heard from, it continues to work assiduously on managing the company and preparing it for change. In writing this, I represent no one except myself. - Yours, etc.,
LIAM MEADE,
Director, Aer Rianta,
Ballyneety,
Co Limerick.