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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Angels add lefty reliever Ryan Buchter to 40-man roster

first_imgThe Angels added veteran reliever Ryan Buchter to their 40-man roster on Sunday, a strong indication that they plan for him to be on the roster whenever the season starts after the coronavirus crisis subsides.Buchter, 33, had not allowed a run in five innings this spring.He has a career 2.86 ERA over parts of five major league seasons, most recently with the Oakland A’s. Buchter had to settle for a minor-league deal with the Angels just after the opening of camp, most likely because last season he struggled against right-handed hitters. The new three-batter rule reduces the value of situational left-handed relievers.In order to clear a spot for Buchter on the 40-man roster, the Angels designated Taylor Cole for assignment. Related Articles Angels offense breaks out to split doubleheader with Astros Jose Suarez’s rocky start sinks Angels in loss to Astros Newsroom GuidelinesNews TipsContact UsReport an Errorcenter_img Angels’ Mike Trout working on his defense, thanks to Twitter Angels’ Shohei Ohtani spending downtime working in outfield Angels’ poor pitching spoils an Albert Pujols milestone last_img read more

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Senad Lulić scored a fantastic goal against Pescara

first_imgBiH football player Senad Lulić scored a fantastic goal in a match Lazio- Pescara. Lulić scored in 35th minute for the lead of Lazio of 2:0, while the first goal was scored by Stefan Radu in 29th minute.The result remained unchanged until the end of the match, and Lazio won with 2:0.Lulić , who was proclaimed the best player of the match, said that he’s very happy because of the goal, but added that Lazio must prepare for the match against Milano.last_img

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Michael Parsons, 58, Oxford: Feb. 4, 1955 – April 30, 2013

first_imgMichael Parsons, 58, of Oxford died Tuesday, April 30, 2013 at his home in Oxford.Following cremation, no services will be held.  A Memorial has been established with the Humane Society and may be left with Oxford Funeral Service. For further information or to send a condolence please visit www.oxfordfuneralservice.com.Michael D. Parsons was born on February 4, 1955 the son of Darl C. and Jo Ann (Paton) Parsons in Winfield. He was a 1973 graduate of the Oxford High School in Oxford. Michael was an Auto Mechanic as well as an Oil Field Pumper for many years. He enjoyed fishing and hunting and also liked to garden.Survivors include his parents, Darl and Jo Ann Parsons of Oxford, brother, Scott Parsons of Wichita, Kans., sisters, Barbara Dietz and husband Steven of Merriam, Kans. and Judith Parsons of Independence, MO, and nephews, Joshua and Brian Parsons of Overland Park.Preceding him in death are his grandparents.last_img read more

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Attention all children 10-and-under! There’s an Elf on a shelf you need to find

first_imgThis is a new event, so we encourage new ideas and ask them to be emailed to Annarose White, wellingtonkschamber@gmail.com or private message on Facebook is also welcomed. If you wish to be on the planning committee for next year, please call or email the Chamber at 620-326-7466 or email w ellingtonkschamber@gmail.com.Follow us on Twitter. Submitted to Sumner Newscow — The Wellington Area Chamber of Commerce/CVB has worked with the Community Christmas Committee to plan the Wellington Holiday Open House December 3 – 6. This program is developed to introduce children to the Wellington business community and to encourage problem solving via decoding the unique clue that will be given each day. The Elf Tour will be from December 3 – December 23. The Elf will be at a different business each day, some businesses will host the Elf multiple days throughout the month, but never on consecutive days. How it works: Children ages 10 and younger can participate, those older can assistUntil school is over the clue is released at 4:00 p.m. via the Wellington Area Chamber of Commerce/CVB Facebook page each weekday. On Weekends, the clue will be released at 12:00 p.m./ Noon. It will then be also shared with local media: Sumner Newscow, SUTV.com, KLEY/KWME Radio, and Wellington Daily NewsThe Elf will be located in plain sight at each business, so the Elf won’t be in any hard-to-reach or hard-to-find place within the businessThe first child to find the Elf at the business location will receive a bag of candy, courtesy of the Chamber PLUS a complimentary prize from the host business.The lucky child to find the Elf will get a picture taken with the Elf in the background and it will be shown on the Chamber’s Facebook page! 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. +6 Vote up Vote down dmartens · 245 weeks ago Love this Idea! I am very proud of Annarose and Wanda, they are a breath of Fresh Air, Energy, Determination, Pride and Fortitude the Wellington Area Chamber of Commerce had been needing for Years. KUDO”S Report Reply 0 replies · active 245 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 commentslast_img read more

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