Aer Lingus reward for Mueller disgraceful

10 April 2015

by Cllr Joe Costello

The decision by the Aer Lingus Board to award Christophe Mueller, the former CEO of Aer Lingus, valuable long-term share rights stretching to 2016 is disgraceful.   Under normal policy Mr Mueller by departing from his post early should have forfeited his 2012, 13, 14 and long-term rights instead of gaining extra rights for a period during which he had left the company.

The Board’s decision to reward Mueller in such a gratuitous fashion raises suspicion about the Board’s obvious enthusiasm for the sale of Aer Lingus to IAG.

How many more millionaires are going to be created at senior management level by the Board’s decision to sell the airline?  At the same time the Board is quite content to flog Aer Lingus to the first bidder that comes along for a bargain basement price and without conducting an independent valuation of the true value of the airline and its assets including the valuable Heathrow slots.

The Aer Lingus Board does not appear to be acting in the best interests of the airline or the Irish people.