Aviation News Item: 00834

31st Mar 2009

Source: ubmaviationnews.com

The management of SR Technics' Dublin base, which is to close later this year, submitted a bid last weekend to take over the plant and save up to 900 of its 1,135 jobs, according to the Services, Industrial, Professional and Technical Union (SIPTU). However, this management buyout proposal would require approximately EUR25m from the Irish Republic's Industrial Development Agency (IDA). The union argues this would be half of the estimated cost in redundancy payments, unemployment benefit and tax forgone, which the State faces if the closure of the former Aer Lingus maintenance facility goes ahead as planned. The company plans to make 600 employees redundant on Friday, April 3, but has not yet disclosed which jobs this will be. ($1 = EUR0.75)

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