Air Companies (Amendment) Bill, 1993

Public bill · Government · Presented

The measure would restructure Aer Lingus by creating Aer Lingus Group plc as a holding company, with Aer Lingus and Aerlinte Éireann as subsidiaries. It would allow the Minister for Finance to exchange the State’s existing shares for shares in the new group and invest up to £175 million more, while also providing for employee profit-sharing. The group would have 12 directors, including four elected worker directors, and the Government would retain control over key appointments, senior pay, borrowing, investments, subsidiaries, accounts and pension schemes. It would also extend worker-participation rules and make related changes to the legal status and management of Aer Lingus, Aerlinte Éireann and Aer Rianta.

Last updated 10 June 2020