Shannon Aerospace confirms decision to axe 107 jobs
A leading aircraft maintenance firm is to lay off 107 staff at its Shannon Airport operation, it confirmed today. Shannon Aerospace blamed costs for the redundancies, which it said were too high and unsustainable.
Thomas Rueckert, the firm's managing director, said it was vital to improve competitiveness in order for the business to survive.
"This is the most difficult day ever experienced by Shannon Aerospace in its twenty year history," he said.
"The company is known as a centre of excellence for training and aircraft maintenance provision and for many years experienced excellent levels of growth."
He added: "Domestic and international aerospace markets have changed significantly and the volume of work has declined considerably."
The company, a subsidiary of Lufthansa Technik AG, provides maintenance, engineering, painting and technical services to airlines.
It was founded in 1989 and has a current workforce of 628 full-time staff and 97 trainees.
The cuts include three senior management posts, 20 other management jobs, 64 staff in administration and support, including logistics, engineering, planning, and 20 production technicians.
Mr Rueckert warned that the Shannon business was competing with other companies around the world with much cheaper overheads.
The company said it would turn to the airline leasing sector in a bid to drum up new contracts.
He said: "For many years, Shannon Aerospace has been an important member of Ireland's aerospace community and we intend to remain so.
"Whilst our core business is aircraft maintenance, we will further develop our provision of engineering, design and technical services for our partners in aircraft leasing, a sector in aviation for which Ireland is justifiably recognised as the world leader."