A NORTH-EAST aircraft breaker has been rescued from administration. Sycamore Aviation, which was previously locked out of its hangar at Durham Tees Valley Airport (DTVA), was tonight bought by Glyn Wall Limited.

Bosses say the move means Sycamore is fully operational again, with DTVA officials hailing it as a key facet to the loss-making airport’s survival.

The Northern Echo attempted to contact Glyn Wall to find out more about its plans, but did not receive a reply, though a statement did confirm it would look to create jobs.

Earlier this month, administrators Steven Philip Ross and Ian William Kinds, of Baker Tilly Restructuring and Recovery, in Sunderland, were appointed to oversee Sycamore, with the reported loss of six posts.

The firm, which works out of a hangar that once housed Lancaster bombers in the Second World War, was formed by former captain Kevin O’Hare, pictured below, who flew for for Jet2, Flyglobespan and Thomas Cook.

The Northern Echo: Kevin O'Hare, of Sycamore Aviation

It is not known what role Mr O’Hare will play in the business’ future.

A statement from Glyn Wall said: “This acquisition brings to an end the previous uncertainty regarding the future of Sycamore, which had suffered impaired financial performance due to a lack of aircraft teardown orders through 2014.

“Sycamore is fully operational and open for business, with a strong and sustainable plan for the future.

“It is expected the original workforce will be reintegrated into the new team.”

In September, The Northern Echo revealed Sycamore, which previously took apart and recovered high-value spares from Boeing 737s and Airbuses, had been forced to cut jobs and was no longer in its hangar after its order book thinned due to airlines cutting back on scrappages.

At the time, Mr O’Hare said: “We do not have access to the hangar, but we are continuing discussions with DTVA on the company’s position and options for moving forward.”

Sycamore forms a key part of DTVA bosses’ master plan to ensure the site’s survival, which focuses on ancillary firms, a housing development and a business park.

The airport’s future had been called into question after a dramatic drop in passenger numbers and the loss of scheduled and charter flights, with its long-term prospects hinging on income from other activities.

But a DTVA spokesman said Glyn Wall’s move was a positive step forward.

He added: “As our master plan for the future of the airport and the overall site development made clear, we believe there are substantial business opportunities for attracting aviation-related activities, including aircraft dismantling and recycling.

“We are pleased the business of Sycamore Aviation has now been acquired by Glyn Wall and look forward to working with the new company in taking forward their business plans.”