Examiner appointed to training college

A judge has granted High Court protection to the Pilot Training College of Ireland Ltd after its directors petitioned the court, saying a survival plan can be put together to keep the company going.

Mr Justice Brian McGovern appointed Michael McAteer as interim examiner.

The college chief executive Michael Edgeworth said the recent cessation in training resulted “in a catastrophic situation” for the company’s students. Future training has been organised by airlines for 93 of those students while efforts are being made to provide an alternative for the remaining students through a training college in Oxford.

The college says the cause of its difficulties include the complete breakdown of its relationship with its US partner, Florida Institute of Technology Aviation. Earlier this month, around 80 trainees were left stranded after being told their training would not be continuing.

Pilot Training College of Ireland offers a 14-month, full-time course to obtain a pilot’s licence whereby the initial part was carried out in Florida and the remainder completed in Ireland.

Proceedings have been issued in Florida against the Irish company, Mr Edgeworth said.

The breakdown forced the company to suspend training in Florida which led to the Irish Aviation Authority suspending its approval for the training which is essential for it to operate.

The company has total liabilities of just over €9.7m.

Mr Edgeworth said an independent accountant is of the opinion that it would be more advantageous to creditors, who include AIB and 350 students who have paid course fees, if the firm was to continue to trade rather than be wound up.

The college can continue to provide training for the later part of the course, the multi-engine instrument rating section, in Waterford.

Mr Justice McGovern was told there were three expressions of interest from prospective investors. The judge said in circumstances where an independent accountant had indicated that if certain conditions are met the company had a reasonable prospect of survival, he would appoint Mr McAteer as interim examiner.

It will come before the court again next Thursday.