TWENTY-five jobs have been saved after administrators found a buyer for an aircraft engineering company.

Jets (Bournemouth) Ltd, based at Bournemouth Airport, was part of Jersey-registered Casarian Holdings, which went into administration last year.

The administrators for the parent company said the Dorset operation had suffered from “lack of investment and poor cashflow”.

It has completed the sale of the business to Jess International Holdings Ltd, a new company formed to develop the business and invest in it.

Casarian Holdings Ltd went into administration last year along with several other companies in the Carlauren Group, which owned hotels, care homes and technology firms. Advisory firm Quantuma has been appointed to investigate the disappearance of more than £76million in investors’ money in Carlauren hotel and care homes businesses.

A statement for the joint administrators for Casarian Holdings – Carl Jackson of Quantuma and Philip Duffy of Duff & Phelps – said: “A subsidiary of that company was Jets (Bournemouth) Ltd, a specialist aircraft engineering company based at Bournemouth Airport which had been suffering from lack of investment and poor cashflow for some time.

“With the assistance of Quantuma’s corporate finance team a package was quickly put together which permitted the sale of the company shares to Jets International Holdings Ltd, a new company formed to invest and develop Jets (Bournemouth) Ltd.

“The sale completed on January 20, 2020 preserving the company and saving some 25 jobs.”

Jets International Holdings Ltd has promised new work and investment to the company.

A spokesman said: “We are looking forward to developing and increasing the business here in Bournemouth and we have already arranged for new customers’ work to be brought here shortly.”

Carl Jackson added: “We were delighted to be able to provide a rescue package for the business which in doing so secures the employment all 25 staff members and provides ongoing investment into the business.”