Dáil Éireann Debate, Tuesday - 28 April 2015
492. Deputy Róisín Shortall asked the Minister for Transport, Tourism and Sport if he will provide details of all payments which will be made to directors and senior management in the event of the sale of Aer Lingus to the International Airlines Group. [16671/15]
View answerRemuneration matters in Aer Lingus are a matter for the Board of Aer Lingus.
Aer Lingus provides in its Annual Report and Accounts a statement of its remuneration policy and a statement of the total remuneration for each director for the relevant period. The latest such report, available on Aer Lingus' website, relates to 2014 and provides details of payments pursuant to the company's Performance Related Pay Scheme and share awards pursuant to the terms of the Aer Lingus Long Term Incentive Plan ("LTIP").
As Aer Lingus is a publicly listed company, if IAG does make a formal offer for Aer Lingus, the Irish Takeover Panel's Takeover Rules would require that details of the directors' interests in Aer Lingus and in the outcome of the offer will be made public.
If IAG were to agree any form of incentivisation arrangement or proposal with Aer Lingus management, the Irish Takeover Rules would also require that details of such arrangements or proposals would be fully disclosed in the offer document and that an independent adviser to Aer Lingus would be required to state publicly that in its opinion the arrangements or proposals are fair and reasonable.
