StandardAero has announced that Associated Air
Center (AAC), the company’s Large Transport Category VIP Completions Center,
will cease operations and close its Dallas Love Field facilities at the end of
this year.
After a thorough analysis, StandardAero has
concluded that the business case for continuing to operate AAC is no longer an
economically viable option for the company and its investors. Current and future
work volumes do not support the fixed costs necessary to operate the facility.
In addition, the limited pipeline for new business opportunities, excess
industry capacity and slowing demands in the VVIP aircraft marketplace have all
contributed to this decision.
The decision also aligns with the company’s
near-term growth strategy and actions to strengthen StandardAero’s portfolio by
expanding its core engine MRO capabilities.
Between now and the end of 2017, StandardAero
will be assisting impacted employees, helping them to find positions in other
StandardAero business units and providing a variety of company funded
redeployment and outplacement assistance and services.
Over the next few months, AAC will operate in
a business as usual manner to complete obligations on current contracts, service
warranties and finish projects committed to existing customers. The company will
maintain as many employees as necessary to ensure customers are properly
supported until all projects have been completed. |