The largest company within the SR Technics group, SR Technics Switzerland, has revealed a major cost-cutting programme as the technical services supplier braces itself for the continuing slide in the value of the US dollar and what it terms "difficult market conditions".
"International aviation is experiencing the greatest change in its history," says SR Technics Switzerland chief executive Tim Talaat. "The stubbornly low dollar is hampering the export of services from Switzerland. We have to focus rigorously on the permanent changes that are occurring and concentrate on high-value activities." A programme called "Forward" has been introduced to improve efficiency and operating results. The company admits that "some job losses" are likely, on top of the losses revealed by SR Technics Switzerland's engine services division in September.
JULIAN MOXON / LONDON
Source: Flight International
