Leo Varadkar (Dublin West, Fine Gael) | Oireachtas source

Resolution of the funding difficulties in the Irish airlines superannuation scheme, where there is a deficit of more than €760 million, is primarily a matter for the trustees, the companies participating in the scheme, the scheme's members and the Pensions Board. The deficit in the scheme has arisen over many years as the companies and the members did not put sufficient funds into it to match the benefits that were expected or promised. 

The problems with the scheme have long been recognised and there now exists an opportunity to resolve them at long last.  An expert panel was established by my Department, the Department of Jobs, Enterprise and Innovation, IBEC and ICTU to find a solution to the industrial relations issues relating to the scheme. The panel presented its final report on 16 June and it has been published on my Department's website. I welcome the report and urge all parties to give it careful consideration. Its recommendations can be used by the parties as the basis for constructive engagement and to achieve a resolution in the best interests of all. While some of the decisions that will be required will be challenging, all parties should bear in mind the view of the expert panel that its recommendations represent the best possible outcome that can be achieved.

I have included provisions in the Shannon Group Bill 2014 to facilitate implementation of whatever proposals emerged from the recent discussions among the parties.  There has been some concern about certain provisions in section 34 of the Bill, which was originally drafted to provide a fallback position.  However, as I informed the House yesterday, on the basis of the expert panel's report and the views expressed in both Houses, I will table an amendment on Committee Stage to delete these fallback provisions.  I urge all the parties involved to seize this opportunity to bring this issue to a final and fair conclusion.

As to the next steps in the process, the expert panel report will be discussed by the boards of Aer Lingus and the Dublin Airport Authority and the relevant trade unions. If the parties are open to its findings, they will subsequently engage with each other on the basis that the report offers a solution with which they will agree. Any agreement will then be the subject of ballots.

See this speech in context