I propose to take Questions Nos. 97 and 99 together.
Following the decision by SR Technics, IDA Ireland and Enterprise Ireland, at my request, formed a project team to promote the operation through the IDA Ireland overseas network and to meet with and assess expressions of interest in the operation.
On September 2nd 2009, I announced the establishment of Dublin Aerospace Ltd, a new aviation maintenance provider supported by Government through Enterprise Ireland. Dublin Aerospace aims to establish a best-in-class Maintenance, Repair and Overhaul (MRO) facility at Dublin Airport, servicing APUs, Landing Gear, Base Maintenance and Training. The company has commenced operations with 70 initial employees recruited. This number is anticipated to grow to 226 jobs.
The Garage business unit of SR Technics has been taken over by the M50 Truck and Van Centre who were successful in securing the airside vehicle maintenance contract from SR Technics.
Aer Lingus have decided to undertake line maintenance operations previously contracted to SRT. A number of employees are transferring from SRT to the new line maintenance operation at Aer Lingus.
While the decision of SR Technics to move operations from Ireland is regrettable, the relocation of companies, and with them jobs, is a reality of the modern global economic environment for a highly developed economy such as Ireland. This shift in the structure of international trade poses challenges to economic policy makers in all developed countries, not just Ireland. It must be remembered that Ireland also experiences the benefits resulting from globalisation as new markets and business opportunities open up for Irish companies.
The Government, through IDA Ireland, are committed to continued marketing of Ireland as a location for companies interested in establishing aircraft maintenance and aviation engineering businesses.