Firm's president calls acquisition proceedure "restrictive"
MONTREAL—Phoenix Aerospace Inc., a Montreal-based provider of heavy and light maintenance, will not bid on Aveos Fleet Performance Inc. assets in the wake of the latter’s closure several weeks ago.
Phoenix Aerospace’s president Serge Prévost said his firm will instead focus on internal expansion and plans “…to call on specialized workers laid off from Aveos.”
“Even with the additional time offered to potential bidders, the procedure appears to be too restrictive for Phoenix Aerospace’s business model, and presents a number of uncertainties,” said Prévost, who announced plans for an expansion project “worth tens of millions of dollars” in heavy maintenance and MRO services for major airlines.
“Phoenix Aerospace’s primary objective is to keep this talent and expertise in Montreal, thus benefitting a strong and distinctive local economy, and maintaining the area’s prestigious global reputation as a centre of excellence in the aerospace industry,” Prévost said.
Phoenix Aerospace Inc. is a Dorval, Que.-based light and heavy aircraft maintenance repair and overhaul (MRO) provider that services airlines as well as commercial and private fleet owners and operators.