Aveos Fleet Performance to begin liquidation

MONTREAL — Aveos Fleet Performance plans to begin liquidation, terminating the employment of all its 2,600 employees across the country.

MONTREAL — Aveos Fleet Performance plans to begin liquidation, terminating the employment of all its 2,600 employees across the country.

The Montreal-based private company, which has provided maintenance services to Air Canada, says it will immediately cease all operations after appearing in Quebec Superior Court.

The move terminates the company’s remaining employees after 1,175 were let go on Sunday when Aveos decided to close its airframe repair business.

About 160 employees will remain to oversee the liquidation process.

Aveos said Air Canada’s $15-million financial pledge Monday afternoon to help the company “following months of protracted negotiations” did not address its challenges.

Air Canada (TSX:AC.B) was Aveos’ main customer, accounting for about 90 per cent of its work.

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