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.