GERMAN-OWNED aircraft maintenance group Lufthansa Technik Airmotive Ireland yesterday put its staff in Rathcoole, Co Dublin, on notice of its intention to move to a three-day working week from July 30th.
The company said this was due to an “unprecedented decrease” in the number of aircraft engines being sent for maintenance and overhaul to the plant in Dublin.
Lufthansa is also seeking up to 40 voluntary redundancies at the Rathcoole facility, where it employs 460 people.
“This is all the more regrettable given the outstanding efforts by all staff to maintain normal business levels in the course of the year,” Lufthansa said in a statement yesterday.
The company expects the three-day week to remain in place until the end of September at least.
“The company hopes it will be a short-term expedient, and it will be kept under continuous review, with the intention of altering it at the first positive signs of incoming business,” Lufthansa added.
Latest accounts for Lufthansa Technik Airmotive Ireland Holdings Ltd, which includes its Shannon-based aircraft maintenance business and other aviation-related activities here, show it made a profit of €12.21 million in 2010 compared with €16.85 million the previous year.
The reduced profitability was due to an €8.9 million exceptional charge relating to a restructuring of its aircraft overhaul business here in 2010.
However, revenues rose to €300 million in 2010 from €266 million a year earlier.
Established in 1980, Lufthansa Technik Airmotive Ireland in Rathcoole specialises in the repair and overhaul of CFM56-3, CFM56-7, V2500-A5 and JT9D engine types.
The Rathcoole business is ultimately a subsidiary of Lufthansa German Airlines.
:quality(70)/s3.amazonaws.com/arc-authors/irishtimes/df7f58f1-ac9c-44fd-bf8e-ea534d775f7b.png)