Ryanair’s pensions demand

RYANAIR yesterday criticised the management of rival Aer Lingus, in which it holds a 30% stake, over its handling of a huge pension deficit widely seen as an impediment to attracting a strategic investor.

Ryanair called on Aer Lingus, which has said it fears industrial unrest over the pension deficit, to refrain from making payments to the pension scheme without shareholder approval.

A spokesman for Aer Lingus declined to comment. Aer Lingus said in August it had no obligation to fund a shortfall of approximately €400 million in an employee pension scheme, but warned this position could be open to legal challenge.