| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers A > Headlines for Aveos Fleet Performance Inc. > News item |
IAMAW meets with possible Aveos investors, seeks resumed operations
By Caroline Salls
Pittsburgh, April 9 - The International Association of Machinists and Aerospace Workers said it met with interested investors seeking to restructure Aveos Fleet Performance Inc.
"The IAMAW has a strong interest to assist and work with potential investors interested in restructuring Aveos Fleet Performance Inc.," IAMAW District 140 Western Region directing general chairperson Fred Hospes said in an IAMAW news release.
"We have approximately 2,600 members out of work in Canada due to Aveos Fleet Performance Inc. ceasing operations abruptly on March 18, 2012, and we want to ensure highly skilled aircraft airframe maintenance, engine maintenance and component maintenance jobs remain in Canada in the Provinces of Quebec, Ontario, Manitoba and British Colombia.
"The IAMAW is committed to work jointly with any investor that is committed to restructure a viable MRO in Canada that meets the needs of workers, their communities and business.
"However, in order ensure that an investment restructuring plan is successful, operations need to resume immediately. This will require participation and support from Air Canada as well as the governments at all levels, federal, provincial and municipal."
As previously reported, Aveos said last month that it planned to begin asset liquidation after an "11th-hour offer" submitted by its principal customer did not appropriately meet the company's challenges.
According to a March 21 news release, a restructuring under Aveos' Companies' Creditors Arrangement Act case is not possible.
The company said it had ceased its operations and terminated the employment of about 1,300 employees across Canada.
Aveos Fleet Performance is a Montreal-based full-service maintenance, repair and overhaul provider to the aviation industry.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.