SR Technics to open Malta facility
Just months after SR Technics announced that it was shutting its Dublin Airport facility with the loss of 1,135 jobs the company has announced that it is to set up a facility on the island of Malta. The announcement of the investment by the Dubai based company was made by the Prime Minister of Malta, Lawrence Gonzi at a press conference last week. When complete in 2012 the new facility will consist of 4 hangars which will be used for base and heavy maintenance on narrow body aircraft. SR Technics will commence operations at an existing hangar which will be used for the duration of the construction project. It is believed that the decision to establish the facility was prompted by the signing of a contract to renew and extend SRT's maintenance business with easyJet. The new agreement is designed to run for 11 years until 2020 and is worth $1.6bn to SRT. The Malta Independent reports that the renegotiated contract will save easyJet $295m over the next 11 years.
The manner of SR Technics exit from Ireland and the €26m hole which it lefty unplugged in its Irish employees pension fund hasn't gone un-noticed in Malta where Prime Minister Gonzi's comments regarding SR Technics trust in Malta in the context of a world recession are being treated with just a little suspicion.
With Lufthansa Technik already operating a narrow body MRO facility in Malta, one can no doubt expect the staff pinching to commence shortly.