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Quebec judge expected to rule on Aveos case

April 20, 2012, Montreal - A Quebec judge is expected to approve a two-month sales process today for insolvent aircraft maintenance firm Aveos Fleet Performance.


April 20, 2012
By The Canadian Press

Potential bidders will until May 29 — five weeks — to prepare their offers for Aveos' three business lines.

Selected bidders will then have about 10 days to finalize their offers and waive any conditions, according to a motion set to be heard by Quebec Superior Court Justice Mark Schrager.

About 23 potential bidders have expressed an interest in acquiring some or all of the Montreal-based company's assets.

Air Canada's largest aircraft repair and overhaul provider laid off more than 2,600 employees across the country March 20 when it ceased operations.

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In addition to having solid financing, potential buyers need to provide details on the proposed number of unionized and non-union employees it will employ.

German-based Lufthansa Tecknik is expected to be among the leading bidders. The company's subsidiaries employ 26,500 workers and serve 750 clients around the world.