PIK

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Ekally1
Posts: 639
Joined: Sat Oct 26, 2019 4:55 pm

Re: PIK

Post by Ekally1 »

Bearsden wrote: Wed Dec 16, 2020 8:52 am
Ekally1 wrote: Tue Dec 15, 2020 8:48 pm I am hearing that FR are closing maintenance centre at pik , moving to europe
Source?
A old colleague works at pik , was told from a FR aircraft maintanance member of staff
atuk
Posts: 934
Joined: Fri May 01, 2020 8:19 pm

Re: PIK

Post by atuk »

Ekally1 wrote: Wed Dec 16, 2020 7:00 pm [quote=Bearsden post_id=2665 time=<a href="tel:1608108752">1608108752</a> user_id=72]
[quote=Ekally1 post_id=2659 time=<a href="tel:1608065288">1608065288</a> user_id=50]
I am hearing that FR are closing maintenance centre at pik , moving to europe
Source?
[/quote]

A old colleague works at pik , was told from a FR aircraft maintanance member of staff
[/quote]

If FR pull out will they repay tax payer funding to lure them in?
McG
Posts: 373
Joined: Sat May 02, 2020 4:43 pm

Re: PIK

Post by McG »

Prestwick Aircraft Maintenance Limited is owned by Ryanair.
G-WATP
Posts: 120
Joined: Sat May 02, 2020 10:50 pm

Re: PIK

Post by G-WATP »

McG wrote: Thu Dec 17, 2020 12:47 pm Prestwick Aircraft Maintenance Limited is owned by Ryanair.
If that's the case, why:
a) does data filed by PAML to Companies House list only two directors, neither of whom have any other directorships? https://find-and-update.company-informa ... 5/officers
b) do the latest PAML accounts state "The company has no ultimate controlling party as both directors own 50% of the issued share capital" https://find-and-update.company-informa ... download=0
c) is there no mention of PAML in Ryanair's latest regulatory filing? (https://investor.ryanair.com/wp-content ... F-2020.pdf)

Is the information filed incorrect?
McG
Posts: 373
Joined: Sat May 02, 2020 4:43 pm

Re: PIK

Post by McG »

No, but there is every likelihood that what I read on Wikipedia previously regarding Ryanair maintenance at PIK is wrong.
G-WATP
Posts: 120
Joined: Sat May 02, 2020 10:50 pm

Re: PIK

Post by G-WATP »

McG wrote: Thu Dec 17, 2020 2:43 pm No, but there is every likelihood that what I read on Wikipedia previously regarding Ryanair maintenance at PIK is wrong.
Indeed. I suspect Ryanair might lease the hangar from PIK, but contract with PAML to provide staff etc to provide maintenance services to Ryanair. It's no doubt much more opaque than that and crafted to take advantage of subsidies, efficient tax arrangements etc.
McG
Posts: 373
Joined: Sat May 02, 2020 4:43 pm

Re: PIK

Post by McG »

Yes, I think similar exists with the companies that supply pilots and cabin crew to Ryanair. Also they now have multiple AOC's (Poland and Malta) to allow them to cut costs further and a UK AOC to help them circumvent any Brexit restrictions.
Bearsden
Posts: 779
Joined: Fri May 01, 2020 7:55 pm

Re: PIK

Post by Bearsden »

No fixed assets in PAML balance sheet (not even a tug!) and no mention of any leases . . . so a labour only organisation

The Ryanair company 'in the chain' is Prestwick Aero Limited which has fixed assets and lease commitments
McG
Posts: 373
Joined: Sat May 02, 2020 4:43 pm

Re: PIK

Post by McG »

That would explain where my confusion on this was arising from.
will1983
Posts: 121
Joined: Sun May 03, 2020 10:56 am

Re: PIK

Post by will1983 »

Significant cuts from FR for Mar - June:-

ALC 2pw
BCN 2pw
FAO 2pw
IBZ 2pw starts June
AGP - 2pw
PMI - 2pw starts June
TFS - 2pw
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