Aer Lingus Proceeds Can Only Be Used For Commercial Purposes

AER LINGUS PROCEEDS CAN ONLY BE USED FOR COMMERCIAL PURPOSES

The Transport Minister says he cannot use any of the proceeds from the sale of the State stake in Aer Lingus for the deferred pension scheme.

Speaking in the Dail, Sinn Féin’s Dessie Ellis called for some of the expected 335 million euro from the sale to be used to protect the pensions of former workers.

But Minister Paschal Donohoe says European accounting rules prevent him doing this.

“Because of the rules that are in place, we are not able to use any funding – were it to happen, if the stake was to be sold – for current government expenditure, it can only be used for commercial purposes” he said.

More News