Monarch hangar is sold to aviation services firm.
Byline: Tamlyn Jones Business Correspondent
AHUGE aircraft hangar at Birmingham Airport has been sold to a US aviation services firm. The hangar, which opened in 2013 and is the size of four football pitches, was operated by Monarch Aircraft Engineering which fell into administration 13 months ago.
The unit, used for maintenance, repair and overhaul of aircraft, has been acquired by STS Aviation in an undisclosed deal.
It will now act as a central European hub for the Florida-based company which says it is planning to launch a recruitment drive for new technical staff to be based there.
STS Aviation provides services such as component sales and distribution, aircraft engineering services, line maintenance and aircraft repair and modifications.
Property consultancy Avison Young sold the hangar on behalf of administrator KPMG.
Chris Davies, associate in its Birmingham office, said: "The hangar is an exceptional facility and Avison Young is delighted to have supported the administrators with the disposal process.
"The aviation sector is going through a period of change with consolidation both in the UK and internationally.
"This transaction demonstrates the strength of both the UK and Birmingham as a strategic maintenance, repair and overhaul location." Monarch Airlines collapsed in October 2017, costing about 2,000 jobs, but its engineering arm announced at the time it would continue as a stand-alone business, a move which preserved almost 300 jobs based at the Birmingham Airport hangar.
A year later, it was taken over by Monarch Airlines' former owner, private equity house Greybull Capital, but fell into administration in January 2019.
The aircraft hangar previously owned and operated by Monarch Aircraft Engineering at Birmingham Airport
|Printer friendly Cite/link Email Feedback|
|Author:||Tamlyn Jones Business Correspondent|
|Publication:||The Birmingham Post (England)|
|Date:||Feb 13, 2020|
|Previous Article:||RAISE A GLASS.|
|Next Article:||Relocation deal fills up office block.|