FLS expected to announce new owner

Denmark-based FLS Aerospace, which employs 1,500 in Dublin, is expected to announce today that it has been acquired by a new owner.

Aircraft maintenance is suffering from the aviation downturn, and it is known that FLS regards the business as non-core and has been in talks with Swiss-based SR Technics regarding a sale.

Due to the slump in the airline industry, FLS Aerospace has seen profits eroded in recent times, with the Irish operation making a pre-tax loss of €1.3m in 2002.

FLS entered the Republic in December 1998 following its takeover of Team Aer Lingus.