FLS sells Copenhagen hangar and workshop activities

Citation

(2003), "FLS sells Copenhagen hangar and workshop activities", Aircraft Engineering and Aerospace Technology, Vol. 75 No. 4. https://doi.org/10.1108/aeat.2003.12775dab.018

FLS sells Copenhagen hangar and workshop activities

FLS sells Copenhagen hangar and workshop activities

FLS Industries, the parent company of FLS Aerospace has announced that NorthStar Aerospace Group A/S, a Danish company, has acquired FLS Aerospace's hangar and workshop activities at Copenhagen Airport. As a result of this acquisition, approximately 110 employees of FLS Aerospace (DK) have been transferred to the new company.

This sale does not affect the line maintenance network of FLS Aerospace in Scandinavia with FLSA line activities continuing at Copenhagen and Billund in Denmark, Oslo-Gardermoen in Norway, Stockholm-Arlanda, Gothenburg and Malmo in Sweden. FLS Aerospace will retain 44 of the staff in Copenhagen to perform the line maintenance at this airport, Billund and Malmo and overall, FLS Aerospace employ over 60 staff in these and other line stations in Scandinavia.

FLS Aerospace are currently contracted to perform "A" checks at Copenhagen for MyTravel, the base's major customer, and discussions are on-going for NorthStar Aerospace Group to continue to perform this work under sub-contract from FLS Aerospace. NorthStar will also establish a major engine maintenance centre in co-operation with a leading American engine manufacturer.

Since its start in 1998, FLS Aerospace (DK) and the Scandinavian operation have had many challenges both operationally and financially. Operations have improved dramatically over the years, but at this time we do not foresee customers for that region to provide sufficient profitable volumes of work to fill the Copenhagen hangars and workshops. The NorthStar option represents the best long-term security for the employees of FLS Aerospace (DK) providing the best opportunity to keep the hangars in business, with NorthStar having access to business not available to the FLS Aerospace.

FLS Aerospace CEO, Mike Humphreys said: "the focus for FLS Aerospace in 2003 is on improving profitability and cash flow and continuing to turn the business into a healthy, successful company. Today's development is consistent with this strategy and represents the best option for our employees in our Copenhagen hangar. We are committed to expand our line operations in Scandinavia and look forward to further growth with our core customers in that important business area".