Five days before Christmas, more than 400 people have been told they're losing their jobs.
Lufthansa Technik has confirmed it's closing its base in Rathcoole.
Last month, the company signaled their intention to close following a review of operations.
It's blaming declining revenues and shrinking international market opportunities.
But the final decision was announced following a board meeting this morning.
The company says workers will be paid on completion of notice - at which time any ex-gratia payments agreed at the Labour Court today will be made.
It also says these will address the pension fund issue too.
