Aer Lingus backs pension compromise

The board of Aer Lingus has backed recommendations made by the Labour Court last week, aimed at resolving its pension deficit woes and avoiding industrial action.

The airline’s management yesterday backed proposals that could see it make a one-off contribution of €140m to staff pension plans.

The move includes a lump sum of €110m going to a new defined contribution scheme, and €30m covering deferred members of the Irish Airlines Superannuation Scheme (IASS). This scheme also covers former staff at SR Technics and Dublin Airport Authority workers and has a deficit of around €780m.