FLS Aerospace, which includes the former TEAM Aer Lingus maintenance business in Dublin, barely broke even in the three months to the end of September. The group made a profit of just more than €2 million (£1.58 million) in the period, bringing profits for the first three quarters of the year to €6.18 million. Sales during the nine-month period were €333 million. The small profit compares with a loss of €76.2 million in the first three quarters of last year and sales of €323 million.
The Copenhagen-based company has confirmed that it will shed 900 jobs in response to the downturn in the aviation sector. The bulk of the jobs, 620, will go at its operation in Manchester, but up to 200 will also go in Dublin, where the company employs 1,600. There will be 150 jobs lost in aircraft overhaul and possibly another 50 in group-support functions. Further jobs will be lost at the company's other operations at Stansted and in Scandinavia.
FLS Aerospace is a subsidiary of FLS Industries, a quoted Danish holding company with interest in engineering, building materials and aerospace. The parent group recorded profits of €3.36 million compared with €109 million last year. Turnover was €1.8 billion for the nine months, down from €1.81 billion.
