Cash out of Aer Lingus of €110 million
Money to employees between now and 2016 called "Stabilisation"
10% contribution to new pension scheme
Frankly this is a poor deal for Aer Lingus as €110 million is direct cash gone for good from the business with not a single thing in return.
Stabilisation payment also will be a sizeable chunk added onto to costs up to 2016.
The 10% of salary pension contribution means you have just saddled the company with massive increase in costs every year going forward.
This is supposed to be a "Good" deal for the company ? What are they getting in return......
What is a bad deal ?