Aer Lingus and FLS announce TEAM sale

Citation

(1999), "Aer Lingus and FLS announce TEAM sale", Aircraft Engineering and Aerospace Technology, Vol. 71 No. 2. https://doi.org/10.1108/aeat.1999.12771bab.042

Aer Lingus and FLS announce TEAM sale

Aer Lingus and FLS announce TEAM sale

Keywords Aer Lingus, FLS Aerospace, Sale

Aer Lingus Group plc and FLS Aerospace Holding A/S announced on 14 December 1998 that they have signed the final contracts concluding the sale of TEAM to FLS. The sale takes immediate effect, and from today TEAM will trade as TEAM FLS Aerospace.

While details of the deal remain confidential to the parties, both Aer Lingus and FLS said they were satisfied with the outcome and predict a positive future for the company.

Commenting on the conclusion of the sale, Aer Lingus Group Chief Executive, Garry Cullen, said: "The completion of the sale of TEAM to FLS is a very positive development for TEAM and its workforce. TEAM is now part of a global industrial group with an international reputation and a long-term commitment to be a major player in the aircraft maintenance industry. In today's intensely competitive business environment this is the best way of securing the future of TEAM and its workforce. I wish them well and, as a major customer of the new company, I look forward to a positive commercial relationship with TEAM FLS Aerospace."

Announcing the completion of the sale, the President and Chief Executive of FLS Aerospace Holding A/S, Steffen Harpøth, said: "We welcome TEAM FLS Aerospace into the FLS Aerospace Holding Group, to work in partnership with our other companies across Europe to continue the expansion of one of the world's leading Prime Maintenance Organisations (PMOT™). We look forward to continuing to provide quality services to all TEAM FLS Aerospace's customers, including Aer Lingus, with whom a ten-year maintenance contract has been signed."