Aer Lingus Pension Fund

[MaximumPete]

Is there the equivalent of the Pension Protection Fund in Eire 'cos they may need it based on the past performance of IAG to push through takeovers?

An article in The Times this week states that BA has given assurances the Aer Lingus slots are safe but no mention of the pension fund.

bmi yesterday, Aer Lingus tomorrow.

Good luck everyone, you'll need it!

[IcePack]

& Monarch seems every one wants to ditch their promises.

[galwaypilot]

Maximum... If EI continues the way it's going, the pension fund will be the least of it's problem!

It's turning a profit and it has a very strong brand. However over the last decade EI has barely expanded. I do believe there are concerns over ORK and SNN connectivity to LHR. IAG have installed A 5 year guarantee that none will be sold or cancelled. I think this will be a fantastic opportunity for EI and Ireland' tourism. Dublin and EI will be the expansion for IAG North and south American routes but in shamrock colours.

If your looking for a pension scheme that very few if any business are offering I think you'll be looking for a while. Not that I agree with that, it's just the way it is. Big fat pensions won't support an airline, it will if anything contribute to it's demise. Best of luck!

[Wirbelsturm]

IAG had nothing to do with the BMI pensions fund, it was never part of the purchase, that was all in the hands of Lufthansa which they then ceremoniously dumped onto the pensions regulator.

Screwed by both Lufthansa and the UK's own pensions regulator for allowing it.

[MaximumPete]

Exactly, IAG said they would only buy the airline bmi and, somewhat reluctantly, bmibaby, which they closed down after six months or so. IAG insisted they didn't want the pension scheme as part of the deal. That left LH with a pension scheme to get rid of and the outcome is well documented on this forum.

My concern is for the Aer Lingus pensioners. What safeguards do they have if the plug is pulled on their pension scheme?

RTFQ?