Oireachtas Joint and Select Committees

Tuesday, 17 February 2015

Joint Oireachtas Committee on Transport and Communications

Proposed Sale of Aer Lingus: (Resumed) Aer Lingus and Stobart Air

5:00 pm

Mr. Colm Barrington:

I will deal with some of those questions and perhaps Mr. Kavanagh might deal with some others. In terms of the numbers of aircraft, Mr. Walsh gave the figure of five aircraft between now and 2020, I understand. We think we can do better than that. That is why I mentioned the two that we can accelerate, plus what he mentioned, so I think we can do a bit better than that. We do not need to agree with him on everything - he does not own us yet.

In terms of the shareholding and the €30 million, I do not know where that figure came from. I can only assume that somebody went to the Aer Lingus annual report and added up some long-term incentive plan awards that could potentially go to executives, some of which expired and are not available to executives, and others of which are based on the performance of the company in 2015, 2016 and 2017 and would only vest if performance targets were reached in those years. That is not a relevant figure and I do not know where it came from.

Independent directors-----

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