EUROPEAN AVIATION AIR CHARTER (EAAC), based at Bournemouth Airport has entered in to an CVA (Creditors Voluntary Agreement ” a sort of British Chapter 11) and dramatically cut back its workforce, from around 900 to less than 200. The six strong ex-British Airways 747 fleet has been grounded and only four Boeing 737s are thought to be operational. The 747 contracts have been taken up by the British registered Icelandic airline Air Atlanta whilst the airline's long established contract with Palmair continues, that brand's owner, the Bath Travel Group, announcing a takeover of European some 18 months ago, which failed to materialize. EAAC was established in 1989 and operates from the former BAC 1-11 production facility at Bournemouth. Australian owner Paul Stoddart has been heavily criticised in some quarters for taking his eye off the operation as he pursued a so far unsuccessful attempt to establish Minardi as a serious Formula One motor racing outfit. European Aviation Ltd, a sister aircraft spares company based at Ledbury, Herefordshire, continues to trade profitably. EAAC managing director Willie O”Neal was hospitalised last week for a planned triple bi-pass operation and is making excellent progress.
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