SR Technics to dispose of base maintenance at Dublin

The management of SR Technics has written to unions telling them that there have been no revised bids for the base maintenance section and that it would be seeking to dispose of the assets of that section. Bides for line maintenance have been extended to June 10.

The move comes as on the back of the sale of the APU and landing gear overhaul sections to a sister company of SR Technics, Abu Dhabi Aircraft Technologies. Just over two weeks ago, SRT announced that it sold the businesses to a 'preferred bidder' which it refused to name. The bid is understood to have been received by SRT after the March 31 deadline for expression of interest from potential buyers. This is understood to have angered the other bidders, the IDA (Industrial Development Authority) and the Irish Government. One of the bids, valued in the region of €10m from a consortium led by former Ryanair executive Conor McCarthy is understood to have been close to the book value of the APU and landing gear assets.

There are now just under 400 employees remaining at the Dublin Airport facility, compared to the 1,135 a few months ago.