This work is devoted to description of microstructure of bulk Al-Fe-Mm-Si-Mg alloys and their thermal stability. The alloy was prepared at different cooling rates (600, 1000 and 1400 RPM) during melt spinning process and sintered at the same conditions by SPS. The aim of this work was to prove if change in melt spinning conditions influence the behaviour of bulk material. It was proven that independently on cooling rate precipitation occurs during sintering process. All materials exhibited heterogenous microstructure composed of fine and coarse areas residue of melt spinning process. During annealing of bulk materials prepared by powder metallurgy, no precipitation of new phase was observed. It is an evidence that precipitation mechanism of self-healing is not possible for these alloys.