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Varadkar: Aer Lingus shareholders could block pensions deal

The Minister for Transport has warned that any deal to end the pensions dispute at Aer Lingus and th...
TodayFM
TodayFM

11:24 AM - 15 May 2014



Varadkar: Aer Lingus sharehold...

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Varadkar: Aer Lingus shareholders could block pensions deal

TodayFM
TodayFM

11:24 AM - 15 May 2014



The Minister for Transport has warned that any deal to end the pensions dispute at Aer Lingus and the DAA could be blocked by shareholders.

Leo Varadkar says both sides in the dispute need to prepare for the prospect that shareholders will block any solution.

He's says any deal to end the current standoff will probably see both companies putting more money into the fund, which has a deficit of over 700 million euro.

But Minister Varadkar says the other shareholders in Aer Lingus could stand in the way of that deal:

The state is the only shareholder in the DAA, so there are no other shareholders that could stand in the way there.

However, there are multiple other shareholders in Aer Lingus - including Ryanair, which currently holds a 29.9% stake in its rival, and which could conceivably block the deal.



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