Aveos liquidates Canadian aircraft maintenance holdings

Victoria
By Victoria March 21, 2012 15:53

Aveos liquidates Canadian aircraft maintenance holdings

Aveos Fleet Performance is liquidating its Canadian aircraft maintenance business. The Quebec Superior Court gave permission yesterday for the maintenance company to cease all operations. Some 1,300 employees have lost their jobs.
“The company had no viable option but to cease operations,” chairman Eugene Davis said.
“We deeply regret the job losses and the impact this decision has on our employees in Canada and extend our sincere gratitude to them for their dedication and service over the years.”
Aveos said Air Canada’s $15-million financial pledge late Monday “following months of protracted negotiations” did not address its challenges and was unacceptable to the company and its secured lenders.

Victoria
By Victoria March 21, 2012 15:53
Write a comment

No Comments

No Comments Yet!

Let me tell You a sad story ! There are no comments yet, but You can be first one to comment this article.

Write a comment

Only <a href="http://www.aviationnews-online.com/wp-login.php?redirect_to=http%3A%2F%2Fwww.aviationnews-online.com%2Ffinance%2Faveos-liquidates-canadian-aircraft-maintenance-holdings-2%2F"> registered </a> users can comment.