Trainee pilots set to lose €80,000

Students of Waterford-based Pilot Training College of Ireland are likely to lose at least €80,000 each in fees and legal costs after it was wound up by the High Court yesterday.

The company had been under court protection from its creditors since July when an examiner was appointed but that was withdrawn after Mr Justice Paul Butler heard that a potential investor had pulled out.

The interim examiner, Michael McAteer of Grant Thornton, had engaged with interested parties and the Irish Aviation Authority in a bid to save the company as a going concern and to restore the college’s licence.