Late bid for SR Technics could save 900 jobs

TROUBLED airline maintenance firm SR Technics told the Labour Court yesterday it could not improve the redundancy package on offer to staff amid reports a “serious offer” had been made for the company.

Just four days before it is due to let the first 600 of its Dublin-based staff go, the company, which employs more than 1,100 people in Ireland, told the court the financial status of its stand-alone Irish operations is extremely weak following the loss of its main customers, including Aer Lingus. It plans to wind down the operation completely by August and move operations to its base in Zurich.

It said the net assets remaining in the Irish business were just €5.7 million and that it was costing €2m a week to run the operation.