Aer Lingus employees gain €25m cash windfall

CURRENT and former employees of Aer Lingus have landed a €25 million pre-Christmas cash windfall as the former national airline buys out the Employee Share Ownership Trust (ESOT).

Aer Lingus announced yesterday that it had made the once-off cash payment of €25.3m to 4,700 existing and past employees of the group.

This transaction has wiped out the ESOT’s borrowings and, with it, the group’s obligation to pay any further share of profits to the trust.