Written Answers - Pension Provisions.

Wednesday, 7 June 2006

Dáil Eireann Debate
Vol. 621 No. 84

First Page Previous Page Page of 286 Next Page Last Page

  124.  Mr. P. Breen  Information on Pat Breen  Zoom on Pat Breen   asked the Minister for Transport  Information on Martin Cullen  Zoom on Martin Cullen   the proposals to deal with the deficiency in the pension funds of Aer Lingus and Team Aer Lingus; and if he will make a statement on the matter. [21918/06]

Minister for Transport (Mr. Cullen): Information on Martin Cullen  Zoom on Martin Cullen  In the context of the planned initial public offering (IPO) of shares in Aer Lingus, I have said that the Minister for Finance and I are open to considering the question of the company using part of the proceeds from issuing new shares to address the funding position in the company’s pension scheme in the context of an overall sol[253]ution involving increased employer and employee contributions going forward. Any money raised by Aer Lingus in this manner would be used to address its own portion of the scheme. I have mandated Aer Lingus management to engage with the trade unions to address the key concerns of staff in relation to a third party investment, including pensions and that process is currently underway.

Question No. 125 answered with Question
No. 119.

Last Updated: 03/11/2010 23:03:24 First Page Previous Page Page of 286 Next Page Last Page