SR Technics managers considering buy-out

Senior managers at SR Technics in Dublin have reportedly teamed up with a private equity group to make a bid for the business.

The Swiss-owned aircraft maintenance firm is closing its Dublin Airport operation with the loss of more than 1,100 jobs.

The decision follows the loss of a number of major contracts.

Reports this morning say a number of senior managers at the facility have joined with the private equity firm Claret Capital to consider making a bid for the company.

The equity group, which is 25% owned by Senator Fergal Quinn and his family, is understood to have begun advising the management team last week.

Around half of the 1,100 jobs would be saved under the plan, which is one of 16 proposals being considered by IDA Ireland and Enterprise Ireland for the Dublin Airport site.