RYANAIR CALLS ON AER LING DIRECTOR:CONDEMN STRIKES

RNS Number : 8973P

Ryanair Holdings PLC

30 October 2012

 



RYANAIR CALLS ON AER LINGUS DIRECTOR (ICTU FAT CAT) DAVID BEGG TO CONDEMN STRIKES OR RESIGN

OFFERS AER LINGUS FULLY CREWED AIRCRAFT FOR 19^th NOV PENSION STRIKE

Ryanair, Ireland's favourite airline, today (30 Oct) reiterated its offer to provide Aer Lingus with as many short-haul aircraft (at market rates) as required to enable it to continue to fly without any disruptions during threatened strike action on Monday 19^th Nov next.

Ryanair supports the Aer Lingus position that no additional contributions should be made to its defined contribution (DC) pension schemes and called on Aer Lingus Director (and ICTU fat cat boss) David Begg to confirm his support for Aer Lingus' position or resign from the Board.

These staff pension schemes were already topped up with €104m of shareholder funds at the time of Aer Lingus' 2006 IPO, and both the unions and employees agreed at that time that the airline's pension contributions would be fixed thereafter.  In addition Aer Lingus employees received 15% of the equity at the IPO as well as a further €35m gift from the airline in 2010 to pay off the ESOT's bank debts.  Aer Lingus' 2011 annual report confirms that its €20m payment to its DC pension scheme is more than half of Aer Lingus' annual profit.

Ryanair's Stephen McNamara said:

"Ryanair will provide assistance to Aer Lingus to maintain it flight schedules without disruption in the face of unjustified strikes by Aer Lingus unions who are yet again seeking to unjustly enrich themselves at the expense of Aer Lingus' shareholders.

"Ryanair calls on Aer Lingus Director (and ICTU fat cat boss) David Begg to confirm that he supports the Aer Lingus position on these defined contribution pension schemes and condemns this industrial blackmail by these Aer Lingus unions, or he must resign to step down from the Aer Lingus Board."

For further information

please contact:                       Stephen McNamara              Joe Carmody

                                                Ryanair Ltd                            Edelman

                                                Tel: [phone]              Tel. [phone]

 

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