Aer Lingus calls EGM on pension plan
Guest Writers are not employed, compensated or governed by TD, opinions and statements are from the specific writer directly
Aer Lingus has announced it will hold an extraordinary general meeting (EGM) next month to address a plan for its pension scheme.
The airline wants shareholder approval to put in a one-off payment of EUR191m from Aer Lingus and EUR72m from the Dublin Airport Authority (DAA) to plans for active and deferred members of the Irish Airlines’ Superannuation Scheme (IASS).
Aer Lingus unions have voted 70% in favour of the pension deal, which will be voted on at the EGM on 10 December.
“Following four years of complex, multi-party negotiation, we are pleased today to issue a circular to shareholders which outlines the proposed solution to address the issues arising from the deficit within the IASS. As previously outlined, we believe that this solution, which represents a compromise by all parties, is the only solution which is capable of being implemented,” said the airline’s chairman Clm Barrington.
He added: “The IASS is no longer a viable scheme for the provision of pension benefits for our employees. A key objective of our IASS Proposal is to establish a modern, single employer pension arrangement which will be fit for purpose in the context of the highly competitive European airline sector.”
Comments are closed.