Both companies have signed a Memorandum of Understanding (MOU) today paving the way for the joint venture which will develop market opportunities and deliver high-quality training courses for the aviation industry throughout the Middle East and North Africa.
'The aim is for the joint venture to ultimately become the benchmark for training in the region across a wide spectrum of aviation functions, including MRO, airport security, and ground handling' said Waleed Al Mokarrab Al Muhairi, COO, Mubadala.
'Together with Lufthansa Technical Training we aim to provide value-enhanced professional training/qualification programmes to meet the growing demands of many of the leading airlines, including Etihad Airways, and for the rapidly increasing airport-operations as well as for MRO facilities like the hugely successful independent technical services provider Abu Dhabi Aircraft Technologies, (formerly known as GAMCO).' These services will also be offered to residents of countries from the entire MENA region.
LTT will assign highly qualified management resources to oversee all operational issues, including the build-up of in-house capabilities. 'The training programmes being offered will be based on our highly successful curricula and will utilize the latest training technology being employed by LTT at their worldwide training facilities,' stated LTT's Managing Director Christoph Meyerrose. In the long term, the training provided by the joint venture could eventually form part of an aviation university program that will deliver aviation undergraduate and graduate degrees to residents based in the United Arab Emirates and the MENA regions.
'This MOU is aligned with Mubadala's strategy in partnering with world-class organizations to further progress the long-term goal of positioning Abu Dhabi as a centre for aviation excellence,' said Al Muhairi.
LTT says the joint venture will not only benefit from its own training expertise, but also that of its subsidiary TRAINICO, which provides vocational re-training for technical and commercial personnel within the aviation industry.
'We will of course ensure that the training offered by the joint venture will meet all international and regional standards, including those of EASA, JAA and the local GCAA,' said Meyerrose.
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Mubadala and Lufthansa Technical Training plan aviation training joint venture
Mubadala Development Company (Mubadala), a strategic investment and development company established and wholly-owned by the Government of the Emirate of Abu Dhabi, and Germany's Lufthansa Technical Training GmbH (LTT), intend to set up a joint venture establishing an aviation training centre that shall be headquartered in Abu Dhabi - the capital of the UAE.
- United Arab Emirates: Tuesday, November 13 - 2007 at 11:00
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About Mubadala Development CompanyMubadala is a strategic investment and development company headquartered in Abu Dhabi, the capital of the United Arab Emirates. Mubadala's mission is to create and maximize longterm returns as an engaged investor in high performing businesses and promising new ventures that will benefit partners, the Emirate of Abu Dhabi and its people.
The company currently employs over 250 staff and is a principal investor in, and manager of, large-scale industry-leading ventures with significant interests in energy, heavy industry, telecommunications, infrastructure and aerospace.
Mubadala also manages a growing and diversified international portfolio with stakes in global operations including the U.S. private equity firm Carlyle Group, Dutch fleet management giant LeasePlan Corporation and Italian car manufacturer Ferrari. Mubadala develops and invests in major aviation and aerospace projects. The company is committed to assisting in the building of the UAE capital's intellectual property and knowledge base of the industry. Mubadala's joint ventures and wholly-owned companies are designed to generate strong financial returns for its partners as well as provide outstanding service and products for customers.
Mubadala is looking to be a global aerospace player and has assembled a highly skilled team to achieve this goal. It already has a significant aerospace community presence with wholly-owned subsidiaries Horizon International Flight Academy and Abu Dhabi Aircraft Technologies, as well as stakes in Abu Dhabi UAV Investments, the Swiss airline technical services provider SR Technics and Italian aerospace outfit Piaggio Aero Industries.
About Lufthansa Technical Training GmbH
Lufthansa Technical Training (LTT) is the world's leading provider of basic and advanced training for employees and management working in maintenance, repair and overhaul (MRO), and the broader aerospace industry. LTT offers basic technical training, type-specific advanced training, through to non-specialised technical and non-technical advanced training to a world-wide customer base of over 260 clients. LTT has over 50 years of experience, and is certified not only by EASA, but also numerous other international aviation authorities. LTT's experience comes from working with one of the worlds most successful Airlines, Lufthansa.
Whose fleet is maintained by LTT trained and qualified engineers, mechanics and management staff. Operating from state-of-the-art-training facilities around the globe, LTT can offer cost effective qualification programmes in a multitude of disciplines at customer's sites, or at its own modern, customer focused training Headquarters in Europe. LTT has fully approved training
centres based on three continents, thereby offering its clients the most up-to date, advanced training available today at venues closer to their own base.
Press contact:
Lufthansa Technical Training GmbH
Julia Fischer
Phone: +49 (0) 69 696 90760
Mubadala
Jacquelyn Miller
Phone: +971 050 611 6798
Posted by Medilyn Manibo, Assistant News EditorTuesday, November 13 - 2007 at 11:00 UAE local time (GMT+4)
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