Aer Lingus is holding an extraordinary general meeting on December 10 for shareholders approval to inject €190.7 million into its pensions scheme to resolve a deficit. The airline has described the pensions deficit as “a real and significant risk to the success of the company” and believes this action will help avoid labor conflict, give financial and legal clarity, and stabilise staff costs.
“We believe that this solution, which represents a compromise by all parties, is the only solution which is capable of being implemented,” Aer Lingus chairman Colm Barrington said.