Full statement from Lufthansa Tecknik
Lufthansa Technik Airmotive Ireland (LTAI), the jet engine overhaul facility at Rathcoole, Co. Dublin, which employs 400 people, announced today that it is to commence a process to consider closing the company, subject to consultation with employee representatives.
LTAI will begin immediate negotiations with its three trade unions (TEEU, SIPTU, UNITE) and existing employee representatives.
The announcement follows an extensive review of operations at LTAI, in the context of declining revenues and shrinking international market opportunities.
Mr Wolfgang Moerig, Managing Director of LTAI, praised the workforce at LTAI for their contributions over the years, and expressed regret that the company was now at this point. He noted the increased quality and efficiency of the new generations of aircraft engines, with reduced need for overhaul.
Aer Lingus set up Airmotive Ireland in 1980. Lufthansa Technik took a 60% shareholding in 1997, and took full ownership in 1999. LTAI specialises in the repair and overhaul of CFM56-3, CFM56-7, V2500-A5 and JT9D engine types.