Aer Lingus and DAA told to correct pension shortfall

Dino D'Amore
By Dino D'Amore June 17, 2014 00:00

Aer Lingus and DAA told to correct pension shortfall

An independent panel has recommended that Aer Lingus and the Dublin Airport Authority (DAA) make an extra contribution of €146.7 million to help correct a deficit in the Irish Airlines Superannuation scheme.

The scheme is a joint pension scheme for workers at Aer Lingus, Dublin Airport Authority and former employees of SR Technics. The scheme is more than €780 million in deficit.

The panel’s recommendation is higher than the €110 million contribution that was previously recommended by the Irish Labour Court in 2013.

The demands come after Aer Lingus posted a profit warning last week, in addition to the airline’s ongoing issues with industrial action.

Dino D'Amore
By Dino D'Amore June 17, 2014 00:00
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