Russian government bailout could save Shannon engineering jobs
07 January 2015
A multi-million euro Russian government bailout of Transaero Airlines could play a major part in saving the jobs of the 240 staff employed at Transaero Engineering Ireland’s (TEI) Shannon facility.
TEI is an aircraft maintenance facility, based at Shannon Airport, which employs 240 highly qualified staff. The global political and economic climate has had a negative impact on TEI’s parent company, the Russian airline Transaero Airlines.
TEI confirmed this week that it has requested court protection with a view to implementing a restructure plan in an effort to ensure the company’s future. The High Court has appointed Michael McAteer of Grant Thornton as interim examiner to the company. Reports of the Russian government’s bailout have raised hopes that McAteer will be able to seek repayment of €2.93 million due to TEI from Transaero Airlines and it will be retained as a customer of its parent company.
Transaero Airlines has reportedly not been in a position to pay TEI for services rendered or support it on an ongoing basis. TEI intended to use the court protection period to restructure its business and attract new investment while working with its existing customers.http://www.engineersjournal.ie/2015/01/07/russian-governemnt-bail-could-save-shannon-jobs/http://www.engineersjournal.ie/wp-content/uploads/2015/01/Transaero-Shannon-Jobs-1024x684.jpghttp://www.engineersjournal.ie/wp-content/uploads/2015/01/Transaero-Shannon-Jobs-300x300.jpgNewsaeronautics,aerospace,Clare