Oireachtas Joint and Select Committees

Tuesday, 17 June 2014

Joint Oireachtas Committee on Transport and Communications

Irish Aviation Authority: Chairperson Designate

5:10 pm

Ms Anne Nolan:

I do not think so either.

With regard to pension entitlements, we worked hard to get our pension problems under control. A few years ago, we had a deficit of €234 million on the balance sheet and that was the reason we could not pay dividends. We were out of kilter with the requirements of the Companies Acts. We have managed to solve the problem and we are down to €113 billion. We have asked our pension managers to engage in more aggressive management of the funds and to make sure they reach targets. We bring them in once a year and put them through their paces. As a board, we ensure they are doing the job we asked them to do. All is looking good and we have our fingers crossed. I read in the newspapers about Dublin Airport and Aer Lingus and we do not have any role in solving this difficult problem.

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