Court ruling to allow Aer Lingus increase reserves for distribution to shareholders
A court ruling will allow Aer Lingus to increase reserves that can be distributed to shareholders, the Irish airline said on Friday.
The High Court ruling 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 €542m from the current €42m, boosting the pot from which it could pay future dividends.
Aer Lingus shares were up 4.3pc at €1.33 at lunchtime, compared with a rise of 0.3pc on the broader Irish index.