Shannon-based Aircraft maintenance specialist, Transaero Engineering Ireland, will exit High Court protection this week after examinership rescued the business
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Transaero Engineering Ireland (TEI) has confirmed that the High Court has approved the completion of its examinership and that it will exit examinership at midday on 15 April.

Chief executive, William McGonagle, acknowledged the support the company had received through the difficult period.

“I wish to acknowledge the support that we received from our employees, customers and suppliers during this very difficult period for the company. In particular we had great support from a number of our customers throughout the period of examinership from Star Air, Tui Group, Air Contractors, Midroc, Jetstream and Aercap – it is very much appreciated,” said McGonagle.

TEI is an aircraft maintenance facility, based at Shannon Airport, which employs 240 highly qualified staff. The global political and economic climate had a negative impact on TEI’s parent company, the Russian airline Transaero Airlines.

Earlier this year, TEI requested court protection with a view to implementing a restructure plan in an effort to ensure the company’s future. The High Court appointed Michael McAteer of Grant Thornton as interim examiner to the company.

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.jpgDavid O'RiordanNewsaeronautics
  Transaero Engineering Ireland (TEI) has confirmed that the High Court has approved the completion of its examinership and that it will exit examinership at midday on 15 April. Chief executive, William McGonagle, acknowledged the support the company had received through the difficult period. 'I wish to acknowledge the support that we...