Aer Lingus chief executive Dermot Mannion has told the Oireachtas Transport Committee he is comfortable with the Government retaining a 25.1% share in the airline, with the workers keeping 14.9%.
He said the €171m pensions deficit at the company would be dealt with by a Government lump sum, and increased contributions from the airline and its workers. Earlier Finance Minister Brian Cowen told the Irish Management Institute in County Wicklow that he expected Aer Lingus employees to contribute to resolve the pension deficit.
He said the Government would try to ensure the airline did not sell its slots at Heathrow. Mr Mannion said there was no realistic possibility of their being sold. But he refused to give an absolute guarantee on this to Independent TD Seamus Healy.
Airline Chairman John Sharman said it would be unwise to give cast iron guarantees, given that Dubai would become a significant connecting hub in the coming years. Mr Sharman also said that speculation by brokers on the value of Aer Lingus showed that they were interested and were trying to talk down the price.
SIPTU told the Oireachtas Transport Committee that unless there is engagement with workers at Aer Lingus, there would be a rocky road ahead.
The union's national industrial secretary Michael Halpenny said job security was the biggest worry for workers at the airline. He added that he did not have confidence that there would be real engagement.
IMPACT's deputy general secretary Shay Cody told the committee that the State must retain a 35% share in Aer Lingus to ensure it has an influence. He said if this does not happen, the Government should give a commitment to buy shares in any future rights issue, to ensure the state's holding of 25% is not diluted.
