UK aircraft teardown company Sycamore Aviation has been bought out after entering administration.
Glyn Wall has purchased the firm which is based at Durham Tees Valley Airport (DTVA) and had been locked out of its hangar after entering administration earlier this month.
In a statement, Glyn Wall confirmed that Sycamore’s financial difficulties had been the result of “a lack of aircraft teardown orders through 2014”, but said that the teardown company was now “fully operational and open for business”.
Sycamore’s rescue was welcomed by DTVA, which sees aircraft teardown as playing an important role in securing the airport’s future.
A spokesperson said: “As our master plan for the future of the airport made clear, we believe there are substantial business opportunities for attracting aviation-related activities, including aircraft dismantling and recycling.”