BAE Jerez to close!!!???

[xabi200]

Hi guys,

As anyone got any insight about the closure of BAE facility in Jerez?

A flight instructor over there told me that they are planning to shut it down in december. So why would they do a road show with aer lingus in dublin?

Cheers

[Wee Weasley Welshman]

http://www.pprune.org/forums/showthread.php?s=&threadid=101989&highlight=jerez+for+sale

[BillieBob]

It's difficult to see how BAe intend to sell Jerez as a 'going concern'. I know, from bitter experience, that the UK CAA withdraws an FTO's approval when it changes hands. Presumably, now that the Spanish DCA has implemented JAR-FCL 1, any future approval will have to be administered by them.

[mintyjack]

Most unlikely to stop trading and close the door, since they went for at least a 20 year lease with the airport authority. Petty cash to big BAe even on a bad day. Sell as a going concern in the fullness of time. Don't expect a rapid sale. For those customers on courses, don't worry.

[Frijolero]

Yes, I am afraid these rumours appear to be true. Should be no surprise really though, as BAE have failed to make any profit, not only in their time in Jerez, but also since long before they left Prestwick. Hard to believe when you take in to account the course prices isn`t it?

Reason for the Aer Lingus Deal-
Obvious answer is that as the company is up for sale, they want to project an image of future potential for success.

I was speaking to a friend who is employed by BAE, and he told me the company sale price was 1 Euro.........................BUT the purchaser must agree to take on the current BAE debt!!!!

Anway, if you are thinking of enlisting for an approved course at Jerez, I would standby until the outcome is resolved. I hear this will happen one way or another by December 2003. The simple fact is that BAE (and it`s investors) can no longer afford to continue to lose so much money.