Firm taking over parts of SR Technics' business at airport to create up to 150 jobs

THE NEW company that is taking over parts of the SR Technics aircraft maintenance business at Dublin airport expects to create up to 150 jobs in its first year.

Dublin Aerospace, a new venture whose backers include Airbus manufacturer EADS, Air Asia founder Tony Fernandes, and State agency Enterprise Ireland, announced yesterday that the company hopes to employ 226 people within five years.

Executive director Conor McCarthy said yesterday that the company could employ 150 people in its first year of operation. “But there’s no reason that number should not be exceeded if we exceed our initial expectations,” he added.

Mr McCarthy said the job creation predictions were conservative and added it could ultimately employ “multiples” of these figures.

Dublin Aerospace is taking over some of Swiss group SR Technics’ operations, which closed in April with the loss more than 1,100 jobs in aircraft maintenance.

Mr McCarthy said yesterday that it is raising $25 million (€17.55 million) from its backers, including EADS and Mr Fernandes, with whom Mr McCarthy worked, and would concentrate on four key areas.

These include narrow-bodied aircraft, such as the EADS-manufactured Airbus models, landing gear and aircraft auxiliary power units.

He stressed the new company’s business would be focused on both price and quality, which are the ultimate concerns of the industry’s airline customers.

Mr McCarthy added that the new company had received a number of expressions of interest from potential customers and will begin by pursuing these.

The company yesterday signed leases for premises and hangars with Dublin Airport Authority.

SRT announced in March that it intended pulling out of Dublin. It had been due to end all operations at the end of August, but extended contracts to its remaining 200 line staff to October.

Welcoming the announcement, Enterprise Ireland chief executive Frank Ryan said the promoters behind the new project were experienced individuals with strong track records in aviation.

Mr Ryan also pointed out that the initiative was a result of work by a joint Enterprise Ireland-IDA project team.