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Court clears A Lingus reserves rise
Friday, March 15 14:28:14
A court ruling today will allow Aer Lingus to increase reserves that can be distributed to shareholders, the airline said.
The ruling in Ireland's High Court means the trustees of an employee pension scheme that is in deficit will not be able to limit the distribution of funds to shareholders, Aer Lingus said.
The airline said it could increase its distributable reserves to 542 million euros from the current 42 million, boosting the pot from which it could pay future dividends.
Aer Lingus shares were up 4.3 percent at 1.33 euros.
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