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The Irish flag carrier is lining up a bid for some of the 12 Heathrow take-off and landing-slots available after the acquisition of bmi by British Airways in March. Aer Lingus intends to offer. Due to the limited capacity of the airport and many airline's great interest from around the world to fly into it, slots - right landing and takeoff - at Heathrow are the most valuable of all the world's airports. Air France / KLM have recently sold to Oman Air - with their pair of daily slots selling for as much as $75 million. Aer Lingus take-off and landing slots at Heathrow could be worth up to €100 million, according to industry sources. The valuation of an average 21 Aer Lingus slots at London's main airport will boost the fortunes of the national carrier, whose future investment strategy will be decided by minister for transport Seamus Brennan over the next.

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IAG, which wants to buy the State’s 25.1% stake in Aer Lingus, submitted a proposal to the Government’s review group yesterday that included legally binding commitments.

These included a guarantee that the 23 slots controlled by Aer Lingus at Heathrow cannot be sold, including to IAG airlines. IAG also pledged that Aer Lingus’ name, head office location, or place of incorporation in the Republic cannot be changed and in addition, said it is prepared to offer a further commitment to operate the slots on Irish routes for five years.

According to a source close to the Government’s review group, the proposal would for the first time give Cork and Shannon chambers of commerce, as well as other local organisations, a role in deciding the future of Aer Lingus flights to Heathrow from Cork and Shannon airports.

As it stands, there is no veto power to prevent Aer Lingus leasing one of its Heathrow slots to another airline. IAG’s proposal would guarantee these slots for five years. According to the review group source, the Government could potentially secure a longer guarantee.

The inclusion of local Cork and Shannon organisations in future decision making is an attempt to allay concerns about the future of the prized Heathrow slots.

IAG said it considers Aer Lingus flights from Cork, Shannon, and Dublin as potentially a lucrative source of business for its worldwide network of flights that operate out of Heathrow.

Moreover, IAG chief Willie Walsh said the international nature of the group would see more transatlantic flow through Dublin due to its US immigration pre-clearance facilities.

However, IAG’s commitments did not appease opponents of the takeover bid.

Fianna Fáil transport spokesman Timmy Dooley said: “The offer put on the table this afternoon is more aspirational than it is concrete. In fact, IAG will have no control over any commitments given, if it is bought out by another company, and given that Qatari Airlines recently acquired a 10% stake in IAG, that prospect is a real possibility.

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“If it is the case that IAG is the subject of a successful takeover bid, the effective management of Aer Lingus would be transferred to the new parent company and any assurances given by IAG on employment and connectivity would be weakened, or even rendered null and void.”

Impact national secretary Matt Staunton said: “A commitment not to sell the Heathrow slots is no guarantee that the use of the slots wouldn’t change. IAG would be able to change the use of these slots as they pleased, including a transfer of use to another airline, without having to sell them. What really stands out in the statement by IAG is the complete absence of any reference to jobs.”

Jobs Minister Richard Bruton said there was a lot at stake for the Government because all of country’s industries depended on access and connection.

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The issue goes before the Oireachtas transport committee today.

Clare’s Michael McNamara, who had the Labour whip withdrawn from him after voting against moves to sell the Government’s 25.1% stake in the airline to British Airways-led consortium IAG, is demanding clarity from ministers on the issue.

The move follows reports that the European Commission will only approve the €1.3bn takeover if IAG sheds some of its London slots to comply with competition rules.

The Government says the special share it obtained in Aer Lingus guarantees the Irish-Heathrow slots, but Mr McNamara say such devices have proved ineffectual in the past.

“Long-haul flights out of Heathrow are much more profitable than flights to Dublin, which in turn are much more profitable than flights to Shannon or Cork,” Mr McNamara told RTÉ.

He said that if IAG gives up some London slots, it could replace them with some of the ones Aer Lingus uses for Irish routes.

“The particular concern is that at the time of the Dàil vote we were told that the minister and his officials had already been in extensive negotiations with the European Commission, yet now for the first time when the deal is about to go through we are learning that there is a suggestion that slots will have to be disposed of,” said Mr McNamara.

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“What we need to know now is was that mooted at the time, was it proposed by the Government in return for acceptance of the deal, did the Commission indicate that slots would have to be disposed of, and if slots are to be disposed of by IAG which part of IAG is it going to be?

“Is it going to be the British Airways side of it, which has a market capitalisation of €10.8bn and where long- haul flights from Heathrow are the core of its business, or is it going to be Aer Lingus, which is less than 10% of the new IAG group?”