Labour Court recommends €110m Aer Lingus pension injection

The Labour Court has recommended that Aer Lingus inject €110 million into the company's pension scheme and individual staff payments of €5,850.

24th May, 2013
Workers at Aer Lingus would have to contribute savings in payroll costs but will receive "stabilisation payments" of nearly €6,000 in return.

The Labour Court has recommended that Aer Lingus provide a once-off lump-sum payment of 110 million to secure the pension benefits of the airline’s current staff.

That amount does not include arrangements that the company has committed to making in respect of deferred members of the troubled Irish Aviation Superannuation Scheme. It also does not include payments of nearly €6,000 per staff member.

The scheme, which has a deficit of over €700 million, will...

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