Dáil Éireann Debate, Thursday - 29 January 2015
189. Deputy Timmy Dooley asked the Minister for Transport, Tourism and Sport the bonuses, benefits or share options in operation for the board and directors of Aer Lingus; the benefits that will accrue if Aer Lingus is purchased by IAG; and if he will make a statement on the matter. [4240/15]
View answerRemuneration matters in Aer Lingus are a matter for the Board of Aer Lingus in the first instance. The company's Annual Report and Accounts, which are available on the company's website, includes a Report of the Remuneration Committee. The latest such report relates to 2013 and states that Aer Lingus remains committed to comprehensive disclosure on remuneration arrangements. The report provides details of the bonus payments pursuant to the company’s Performance Related Pay Scheme and share awards pursuant to the terms of the Long Term Incentive Plan (“LTIP”).
The Remuneration report is considered at Annual General Meetings of the company. The Deputy will be aware that the State's shareholding voted against the non-binding resolution on the consideration of the Remuneration Report last year at the Annual General meeting at which the 2013 Annual Report and Accounts were considered due to circumstances that were outlined by my predecessor at the time and which are on the record of the House. While many other shareholders supported the government's position, most did not and the remuneration report was approved.
