LHT Airmotive Ireland redundancy costs revealed

Lufthansa Technik Airmotive Ireland was still operationally profitable when it closed this year with the loss of 400 jobs, according to accounts seen by the Irish Times. The engine overhaul facility earned a $16m operating profit in 2013, although redundancy costs related to its closure swung it to a pre-tax loss of $50m for the year. The 2013 operating profit was about half that made in 2012. Lufthansa Technik maintains an Irish presence at Shannon.

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