Pat Breen (Clare, Fine Gael)
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Question 124: To ask the Minister for Transport the proposals to deal with the deficiency in the pension funds of Aer Lingus and Team Aer Lingus; and if he will make a statement on the matter. [21918/06]

Martin Cullen (Waterford, Fianna Fail)
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In the context of the planned initial public offering (IPO) of shares in Aer Lingus, I have said that the Minister for Finance and I are open to considering the question of the company using part of the proceeds from issuing new shares to address the funding position in the company's pension scheme in the context of an overall solution involving increased employer and employee contributions going forward. Any money raised by Aer Lingus in this manner would be used to address its own portion of the scheme. I have mandated Aer Lingus management to engage with the trade unions to address the key concerns of staff in relation to a third party investment, including pensions and that process is currently underway.