By Simon Zekaria - 12th April 2004
European Commission regulators on Wednesday are set to decide on Swiss aircraft giant SR Technics’s €50 million purchase of ailing rival FLS Aerospace.
FLS Aerospace, from the Danish conglomerate holding company FLS Industries, specialise in aircraft maintenance and repair - with operations centred in the United Kingdom and Ireland.
It maintains planes for several leading airlines, including British Airways, Easyjet, Ryanair and BMI Baby.
The deal will create the world’s largest independent aviation maintenance and repair company under the name SR Technics Group with an annual revenue of €800 million.
The move also sees SR Technics venture into the maintenance of Boeing aircraft, in addition to its support of Airbus air carriers.
The merger was filed to Brussels on March 5 under the EU’s 'fast-track' procedure, where tie-ups are approved automatically if no third-party complaints are made within one month of notification.
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