According to a joint statement from Cardiff Aviation and the Welsh Government, an agreement has been reached over the unpaid rent that Cardiff Aviation has accrued for the twin peaks hangar at St Athan.
The details of the agreement have not yet been disclosed but rent from 2012 is due to Welsh Government accounts.
It also emerged yesterday that staff had not been paid their most recent salary and this was now 2 weeks overdue. Cardiff Aviation said this was due “to funds owed to it not being cleared in time”.
Iron Maiden frontman Bruce Dickinson, has since agreed to fund half of the staff salary in time for easter with a promise “to address the shortfall as soon as possible.”
In a statement today, Cardiff Aviation said: “We anticipate the funds due should clear within the next two weeks, and hopefully sooner, and we will keep staff updated.
“I know Cardiff Aviation has a bright future and as well as apologising for this situation, we have asked staff for their patience as we seek to rectify this as swiftly as we can.”
Set up in 2012 with finance from the Welsh Government, Cardiff Aviation promised up to 1000 jobs within 18 months. It currently employs around 150 people at the St Athan site.
The company has struggled to attract business for its Aircraft Maintenance & Repair operation and several major airlines including Easyjet & Monarch ended contracts after being unhappy with the company. Mr Dickinson has been more than vocal about the lack of approval to use the Instrument Landing System (ILS) at St Athan and once claimed it was costing his company “millions”.
Cardiff Aviation’s future currently seems to be hinged around providing a Boeing 767, currently stored at St Athan, to Air Djibouti as part of their “Airline in a Box” format. They currently supply and operate a Boeing 737-400 for the African airline.