Aer Lingus ‘reluctantly’ accepts additional €51m pension payment

first_imgIrish flag carrier Aer Lingus is to pay nearly €191m towards a new defined contribution (DC) scheme for part of its staff, as the airline seeks to settle the protracted dispute surrounding the underfunded €1.4bn Irish Airlines Superannuation Scheme (IASS).The company said it would accept the findings of an expert panel, convened by the Irish government and social partners, in what was seen as the final opportunity to end the “protracted and divisive dispute” over a €715m deficit in the multi-employer fund.In an announcement to the Irish Stock Exchange, Aer Lingus chief executive Christoph Mueller noted that a recommended €146.7m payment was a significant increase over a previous Labour Court ruling that urged a €110m investment into a new DC scheme to compensate active members for the benefits cuts they would incur due to the restructuring of the IASS.“Aer Lingus and the company reluctantly accept the recommendations of the expert panel as the only solution that is capable of acceptance by all the parties,” Mueller said. He said implementing the “very complex” solution would require continued effort by everyone involved in the dispute, which has lasted several years, partially due to the reluctance of former major shareholder Ryanair to consent to any payment.Mueller added: “A significantly improved industrial relations environment is also a key requirement, and a functioning internal dispute resolution mechanism must be established for this purpose. We strongly encourage all parties to work collaboratively to achieve these goals.”Additionally, the company said it would offer the trustee of the IASS a further €14m to compensate deferred members for part of their benefits cuts, raising its offer to €44m.It said it was now engaging with the trustee and had received “initial conformation” that the fund would proceed with a proposed de-risking strategy, as outlined in a recent funding proposal.Under the 25-year funding proposal, the scheme has allocated heavily to euro-zone government bonds, with an aim of achieving a €28m surplus by 2039.It is also reducing member benefits by up to 20%, cutting the current deficit to €197m.If both payments are accepted by the trustee, then Air Lingus would end up contributing €190.7m to a new DC fund, a nearly €51m increase from the €140m payment previously recommended by a Labour Court settlement.The company will now seek final approval for all payments from all stakeholders, then convene an extraordinary general meeting to gain shareholder approval, with the aim of completing all payments by the end of 2016.The announcement comes a day after Irish minister Leo Varadkar, whose Department of Transport, Tourism and Sport was one of the government departments involved in convening the expert panel, told the Dáil that he urged all parties to seize the opportunity and “bring this issue to a final and fair conclusion”.He added that he had spoken with both the chairman of Aer Lingus, Colm Barrington, and at least one of the board members representing the interests of the state.Varadkar also said he had not yet had an opportunity to discuss the matter with the board of the Dublin Airport Authority, the other scheme sponsor involved in the dispute, which was also urged by the expert panel to contribute towards the funding of a new DC scheme.A spokesman for DAA referred back the company’s previous statement on the expert panel report, which noted that it would review the recommendations.last_img read more

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All to play for as Premier League enters final week of the season

first_imgAs the Premier League enters the final week of the season, there is still plenty to play for at both ends of the table. With two games remaining for all the clubs preparing to settle the campaign’s remaining issues, AFP Sport takes as closer look at the race to qualify for the Champions League and Europa League, as well as the fight to avoid relegation: Top four fight Sixth-placed Wolves will qualify for the Europa League if they win their final two games against Crystal Palace and Chelsea. Tottenham, one point behind Wolves, will be guaranteed to hold onto seventh place at least if they win their final two games against Leicester and Palace. Sheffield United, who face Everton and Southampton, are one point behind Tottenham in eighth and need Jose Mourinho’s men or Wolves to slip up. Relegation fears The teams who finish fifth and sixth will qualify for next season’s Europa League, unless either of the sides in those positions win the Champions League or the Europa League – United and Wolves are contenders in the latter competition – when they restart next month. Winning those tournaments is rewarded with Champions League qualification. If the FA Cup winners finish in the top six, then seventh place in the Premier League would qualify for the Europa League. Read Also: Aubameyang stuns City as Arsenal reach record 21st FA Cup final Bournemouth’s win against Leicester on July 12 was their first in 10 games, but a defeat at City kept them in the mire. Watford had won their previous games before a 3-1 loss at West Ham on Friday dented their survival bid. FacebookTwitterWhatsAppEmail分享 Wolves are hoping to reach the Europa League again Chelsea and Leicester hope to hold onto their top four placescenter_img Chelsea and Leicester City are in possession of the coveted top four berths alongside champions Liverpool and Manchester City, who are guaranteed to finish second. But both side’s grip on those spots in next season’s Champions League could easily be broken by in-form Manchester United in a nerve-jangling finale. Third-placed Chelsea are one point ahead of both Leicester and United, who sit fifth and are behind the Foxes on goal difference. On Sunday, Leicester face a tricky trip to Tottenham, while on Wednesday United host West Ham and Chelsea travel to Liverpool. After those games, the top four may have been shaken up significantly before the final round of matches on July 26. Chelsea need four points from their last two games to guarantee qualification and play Wolverhampton Wanderers at Stamford Bridge on the last day. Leicester and United meet in a decisive showdown at the King Power Stadium, which means if either of those teams win those last two games they are guaranteed to return to Europe’s elite club competition. United are the form team after winning five of their seven league games since the restart, while Chelsea and Leicester have both shown recent signs of vulnerability. Europa League race Promoted Content18 Cities With Neverending Tourist-Flow8 Scenes That Prove TV Has Gone Too FarFantastic-Looking (and Probably Delicious) Bread Art8 Weird Facts About Coffee That Will Surprise You14 Hilarious Comics Made By Women You Need To Follow Right Now7 Ways To Understand Your Girlfriend Better7 Worst Things To Do To Your Phone8 Superfoods For Growing Hair Back And Stimulating Its GrowthWho Earns More Than Ronaldo?7 Black Hole Facts That Will Change Your View Of The Universe11 Most Immersive Game To Play On Your Table TopBirds Enjoy Living In A Gallery Space Created For Them Loading… Aston Villa are embroiled in the relegation dogfight Norwich are already relegated, leaving two places to be filled by unwilling teams over the next week. West Ham and Brighton are effectively safe after moving six points clear of the relegation zone, leaving Watford, Bournemouth and Aston Villa scrapping for survival. Third-from-bottom Bournemouth are three points behind Watford and can move level on points if they beat Southampton at Dean Court on Sunday, with a three-goal margin of victory enough to take them above the Hornets on goal difference. Watford take on Manchester City at Vicarage Road on Tuesday and shortly afterwards Villa host Arsenal. If Watford beat City or take a point, then Bournemouth or Villa would be relegated if they fail to match the Hornets’ result. On the last day, Villa head to West Ham, Bournemouth are at Everton and Watford travel to Arsenal. After going six games without a win after the coronavirus hiatus, Villa have given themselves hope with four points from their last two matches, although conceding a late equaliser at Everton on Thursday was a major blow.last_img read more

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Crusaders to host El Dorado tonight; Duke wrestlers lose league opener; WMS scores; and weekend scheduleIn

first_imgJV Girls7:30 p.m. WHS WrestlingClearwater tournament by Tracy McCue, Sumner Newscow — The Wellington will be hosting El Dorado Friday night. The Crusader boys, 4-4, will be attempting to break a three-game losing streak against the Wildcats, who currently are 1-8 for the year. The Wellington girls, at 3-5, will be battling the Lady Cats, who are 3-6.The girls varsity starts at 6 p.m. with the boys following at about 7:30 p.m.In other news…Wellington wrestlers lose to Mulvane. The varsity Wellington wrestling team lost to Mulvane 48-34 in the opening of the Ark Valley Chisholm Trail League Div. IV dual season there Thursday eveningThe results are as follows:106 – Bush, Mulvane won by default.113 – Schmidt, Well. pinned Pollard, 2:30.120 – Mosses M pinned Wolf 5:34.126 – Houser M pinned Heacock, 1:04.132 – Brownley M won by default.138 – Scantin M pinned King 3:30.145 – DeJarnett W pinned Sutpkin 1:30.152 – Cusick M pinned Struble, :28.160 – Elliott M pinned Bodkins 1:00.170 – Ast W major dec. Benefiel 10-1.182 – Hauglen W pinned Dillon 4:45.195 – Fair W pinned Duncan 3:40.220 – Brand W pinned McElvray 1:53.Wellington Middle School scores:The following are scores from Thursday’s games against Clearwater:8A Boys – Wellington 49 Clearwater 28Joe Ybarra 24, Andres Lara 10, DeAndre Washington 8, Grey Hatfield 4, Jacob Ewing 2, Michael Ledbetter8B Boys – Wellington 38 Clearwater 20Chance Hamel 9, Caleb Reichenberger 6, Chi Barton 4, Dakota Dry 4, Julian Burden 4, Nichols 3, Adam Farley 2, Brayden Higginbotham 2, Andres Lara 2, Drake Hendrix 28A Girls – Wellington 33 Clearwater 11Adrienne Norris 8, Taylor Meyer 8, Jacelyn Buck 4, Taryn Stoddard 4, Kileigh Peninger 3, Carrie Nuss 2, Camryn Ricke 2, Delaney Parkey 28B Girls – Wellington 26 Clearwater 08Arielle Pottier 6, Carrie Nuss, 4, Camryn Ricke 4, Delaney Parkey 4, Kileigh Peninger 2, KayCee Pennington 2, Lyrik Williams 2, Savanna Ybarra 27A Boys – Wellington 40 Clearwater 21Silas Popplewell 16, Zander Vargas 14, Blake Rausch 6, Isaac Hilt 47A Girls – Wellington 37 Clearwater 18Lindsey Scheufler 18, McKenna Jones 8, Kennedee Lara 4, Kylie Aufdengarten 3, Tori Lewellen 2, Natalie Henning 2Schedule for this weekend: Belle PlaineDouglass , home South HavenFlinthills , home Close Forgot password? Please put in your email: Send me my password! Close message Login This blog post All blog posts Subscribe to this blog post’s comments through… RSS Feed Subscribe via email Subscribe Subscribe to this blog’s comments through… RSS Feed Subscribe via email Subscribe Follow the discussion Comment (1) Logging you in… Close Login to IntenseDebate Or create an account Username or Email: Password: Forgot login? Cancel Login Close WordPress.com Username or Email: Password: Lost your password? Cancel Login Dashboard | Edit profile | Logout Logged in as Admin Options Disable comments for this page Save Settings Sort by: Date Rating Last Activity Loading comments… You are about to flag this comment as being inappropriate. Please explain why you are flagging this comment in the text box below and submit your report. The blog admin will be notified. Thank you for your input. 0 Vote up Vote down …… · 290 weeks ago Haydon pin at 182 thanks Report Reply 0 replies · active 290 weeks ago Post a new comment Enter text right here! Comment as a Guest, or login: Login to IntenseDebate Login to WordPress.com Login to Twitter Go back Tweet this comment Connected as (Logout) Email (optional) Not displayed publicly. Name Email Website (optional) Displayed next to your comments. Not displayed publicly. If you have a website, link to it here. Posting anonymously. Tweet this comment Submit Comment Subscribe to None Replies All new comments Comments by IntenseDebate Enter text right here! Reply as a Guest, or login: Login to IntenseDebate Login to WordPress.com Login to Twitter Go back Tweet this comment Connected as (Logout) Email (optional) Not displayed publicly. Name Email Website (optional) Displayed next to your comments. Not displayed publicly. If you have a website, link to it here. Posting anonymously. Tweet this comment Cancel Submit Comment Subscribe to None Replies All new comments SPORTS TEAMFri. Jan 16Sat. Jan. 17 Follow us on Twitter. WHS BasketballEl Dorado, home Varsity Girls6 p.m.center_img JV Boys6 p.m. Conway SpringsW. Independent , home ArgoniaCentral away C Boys4:15 p.m. OxfordElk Valley away WHS JV Wrestling Varsity Boys7:30 p.m. CaldwellCV-Dexter awaylast_img read more

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