Developed to service Etihad's fleet of 14 A330s, nine A340s, 6 A320's and five Boeing 777-300ERs, the hangar, to be completed in July this year, will significantly improve turnaround times - a vital facet of the Abu Dhabi Aircraft Technologies' total care provider strategy.
"The cornerstone agreement with Etihad is integral to maintaining our standing as the Middle East's leading MRO, and the development of this dedicated facility underlines our commitment to providing world-class turnaround times through total maintenance solutions and classic MRO services," said John Byers, CEO, Abu Dhabi Aircraft Technologies.
"Etihad is expanding rapidly, both in terms of fleet size and network reach, and ready access to reliable MRO services is crucial to its growth strategy. The solid working relationship between us reinforces the UAE capital's reputation as a leading emerging aviation centre of excellence."
The Etihad accord, signed last November, was the first sealed by Abu Dhabi Aircraft Technologies since its re-engineering from the former Gulf Aircraft Maintenance Company (GAMCO). The re-launch of the company was part of a long-term strategy of targeting a $800m revenue stream by 2012.
Under the agreement, Abu Dhabi Aircraft Technologies provides award-winning Etihad with integrated MRO solutions, covering airframe services, including 'A' and 'C' checks, technical, procurement & logistics and engine services including its innovative Total Care Auxiliary Power Unit (APU) Support product - a first-of-its-kind in the sector.
With Abu Dhabi Aircraft Technologies predicting a 7.3% compound average growth rate for the MENA region's five year MRO addressable market, Byers believes the addition of new facilities is key to securing a sizeable share of the forecasted expansion.
"As the Middle East is currently a net importer of airframe work, not an exporter, airframe MRO capacity exceeds demand. However there is significant under capacity in terms of engine and component MRO, with a very high proportion of both currently being exported," said Byers.
"Future demand for hangar facilities should be met by modest growth of existing regional MRO providers. The planned expansion of local facilities will keep up with airframe MRO demand in the short term, however if more engine and component overhaul demand is to be satisfied locally, there is a clear requirement for new facilities.
"The market dynamics of the engine and component repair business - primarily the need for large work volumes to justify capital investments - tend to require and attract OEMs who understand that a partnering climate is necessary."
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Abu Dhabi Aircraft Technologies begins work on dedicated Etihad hangar
- United Arab Emirates: Wednesday, February 27 - 2008 at 12:26
- PRESS RELEASE
Abu Dhabi Aircraft Technologies, wholly-owned by Mubadala Development Company (Mubadala), has begun constructing a dedicated single bay, line and light maintenance hangar for Etihad - the UAE's national airline - as part of a $500m, five-year maintenance, repair and overhaul (MRO) pact between the two.
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About Abu Dhabi Aircraft Technologies:Headquartered in Abu Dhabi, the capital of the United Arab Emirates, Abu Dhabi Aircraft Technologies enjoys a 20-year-old history of aviation technical solutions expertise through its Gulf Aircraft Maintenance Company (GAMCO) heritage. Today, the company is the Middle East's leading independent third-party technical solutions provider with a strong regional customer base and an international client portfolio stretching from Iceland in the west to Sri Lanka in the east.
Abu Dhabi Aircraft Technologies is constantly evolving into a technically sophisticated, customer-oriented and flexible organisation with a 2,800 strong workforce accommodating customer requirements and adhering to stringent quality and safety protocols. The company is constantly introducing new products and services in addition to tailor-made and bundled solutions such as its Total APU Support package - the first of its kind in the world.
Abu Dhabi Aircraft Technologies leverages a favourable cost base, a solid infrastructure and leading-edge technologies to be the logical partner of choice for airlines, air forces and freight operators seeking to outsource maintenance work to a reputable organization delivering world-class turnaround times and high quality services.
About Mubadala Development Company:
Mubadala Development Company is a strategic investment and development company headquartered in Abu Dhabi, the capital of the United Arab Emirates. Wholly-owned by the Abu Dhabi government, Mubadala's mission is to create and maximize long-term returns as an engaged investor in high performing businesses and promising new ventures.
The company currently employs 250 staff and is a principal investor in, and manager of, large-scale industry-leading ventures throughout the Middle East and North Africa with significant interests in energy, heavy industry, telecommunications, infrastructure and aerospace.
Mubadala also manages a growing and diversified international portfolio with significant stakes in global operations including the Dutch fleet management giant LeasePlan Corporation and Italian aerospace company Piaggio Aero Industries.
About Mubadala's Aerospace & Technology Unit:
Through its Aerospace & Technology Unit, Mubadala develops and invests in major aviation and aerospace projects. The company is committed to increasing Abu Dhabi's participation in these industries to building the UAE capital's intellectual property and knowledge base in line with the Government's Vision 2020 mandate to diversify its economy.
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.
For further information:
MCS/Action
Sam Dulka
Tel: +97150 5507053
Posted by Anne-Birte Stensgaard, Senior News EditorWednesday, February 27 - 2008 at 12:26 UAE local time (GMT+4)
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