Fate of the maintenance arm of bankrupt Swissair Group to be decided soon

The future of bankrupt Swissair Group's maintenance arm SR Technics will be decided during the next few weeks after several potential buyers expressed an interest in acquiring all or part of the business.

Lufthansa Technik and Singapore Technologies Aerospace say they are in the running and industry sources say several other potential buyers have emerged.

SR Technics - a major Pratt & Whitney PW4000 and CFM International CFM56 overhaul provider - has also attracted the attention of US engine manufacturers P&W and General Electric. P&W declines to comment on SR Technics but confirms it is "aggressively seeking expansion opportunities". GE, a partner in CFMI with Snecma of France, is believed to have also considered submitting a bid.

Air France Industries, meanwhile, is looking at acquiring certain SR Technics units but has ruled out buying the whole company.

SR Technics says "many big names in and outside the maintenance, repair and overhaul business have expressed interest" in investing, adding: "Results are expected for the second quarter". Despite the upheavals afflicting the Swissair Group, SR Technics says it has retained its customer base and "acquired substantial new business".

It has also been named as preferred maintenance provider for new flag carrier Swiss, created by the merger of Crossair with parts of the short/medium- and long-haul operations of the former Swissair.

Source: Flight International