Quotes: US MENA   Enter Symbol: NewsLetter: Search: advanced

Abu Dhabi?s aviation poised for growth as Etihad Mubadala ink deal  Join our daily free Newsletter

MENAFN - Khaleej Times - 09/05/2014
No. of Ratings : 0
Add to Mixx!



(MENAFN - Khaleej Times) Etihad airways and mubadala development company or mubadala entered into an agreement on thursday in which the airline will acquire abu dhabi aircraft technologies or adat from mubadala.

the deal will see mubadala retain adat’s engine focussed maintenance repair and overhaul or mro business which will be the catalyst for the continuity and growth of its dynamic engine business through the establishment of a new engine company.

the transaction includes maintenance and engineering teams hangars component workshops and paint facilities in abu dhabi which will enhance etihad airways capability to undertake airframe and component maintenance on its growing fleet of modern aircraft including the new airbus a380 and boeing b787 which will join the fleet in the last quarter of 2014.

james hogan etihad airways’ president and chief executive officer said: “adat has been a vital partner to the uae national carrier over the past five years. this acquisition will strengthen the maintenance capability of the etihad airways group by bringing together critically important functions that go to the heart of ensuring safety and optimal performance of the operations.”

engine mro is set to form a significant component of mubadala’s aerospace strategy and this new engine company will form the foundation for this growth under the leadership of abdul khaliq saeed adat’s current chief executive officer. at the 2013 dubai airshow mubadala signed deals with rolls royce and ge aviation to establish next-generation trent xwb and genx mro centers of excellence in al ain. this was further supported with a combined commitment of usd1.0b in engine parts production from both manufacturers. homaid al shemmari chief executive officer of aerospace and engineering services at mubadala commented: “this acquisition by etihad airways is a true testament to adat’s world-class mro credentials and its exceptional workforce. at the same time we are establishing a new company to build on the growth in this strategic sector focussed on the engine business following our announcements at the dubai air show. as part of our development mandate mubadala is proud to have cultivated a world-renowned mro service provider and today’s announcement is a reflection of our mandate to deliver strong social and economic returns to abu dhabi and the uae.” as well as servicing the etihad airways fleet adat’s enhanced maintenance capability in abu dhabi will be made available to etihad airways’ equity alliance partners and third party customers maximising the synergies available to the group.

hogan welcomed the adat team to the etihad airways group.“our continued success is driven by our people who are committed to ensuring etihad airways is the best airline in the world.”

“i am delighted to welcome the highly skilled and experienced maintenance and engineering teams from adat who will play an important role in supporting the continued growth of the airline” he said.

jeff wilkinson etihad airways’ senior vice-president technical will be responsible for the combined mro of adat and the daily technical operations business.

a transition plan is in place and will ensure ‘business as usual’ as etihad airways continues to work closely with its new and existing employees and customers ensuring that there is no disruption to existing services during the integration period while benefits are delivered immediately. the award-winning facility in abu dhabi currently serves more than 70 commercial airline customers worldwide.

— business?khaleejtimes.com


 


Khaleej Times




  MENA News Headlines
 Sep 30 2014 - No Haj without permit: Checkpoints net 98000Arab News
(MENAFN - Arab News) Security forces have barred 98000 people from entering Makkah because they did not have Haj permits the Interior Ministry said in a statement on Monday. The authorities did not ...

 Sep 30 2014 - Turkey tanks face IS at Syria borderArab News
(MENAFN - Arab News) MURSITPINAR Turkey: Turkey on Monday deployed tanks and armored vehicles to reinforce its border with Syria amid escalating Islamic State violence as Parliament is set to ...

 Sep 30 2014 - Price control to end pilgrim abuseArab News
(MENAFN - Arab News) The Ministry of Haj plans to fix the prices of Haj services offered by companies in an attempt to prevent the exploitation of pilgrims by unscrupulous operators.Hussein Al-Sharif ...

 Sep 30 2014 - KSA to host 1.4m Hajis from abroadArab News
(MENAFN - Arab News) More than 1.4 million foreign pilgrims are expected to perform Haj this year said Haj Minister Bandar Hajjar. 'About 1.36 million pilgrims already arrived from different ...

 Sep 30 2014 - Misconceptions about IslamArab News
(MENAFN - Arab News) This is with reference to the report 'Be modern but don't shun Islamic values: King' (Sept. 29). Everybody should read Custodian of the Two Holy Mosques King Abdullah's speech ...

 Sep 30 2014 - Toppling Assad regimeArab News
(MENAFN - Arab News) Beyond a shadow of doubt the atrocities committed by the regime of Bashar Assad paved the way for the militants belonging to the so-called Islamic State to take roots in Syria. ...

 Sep 30 2014 - South Korea's Overseas Construction Orders Grow 5.2%Qatar News Agency
(MENAFN - QNA) Overseas construction projects won by South Korean builders so far this year have risen 5.2% from a year earlier with the annual total expected to top US$70 billion, the government ...

 Sep 30 2014 - Real Estate Transactions Worth over QR831 Million Last WeekQatar News Agency
(MENAFN - QNA) Real estate transactions between September 21 and 25 for the real estate sales contracts registered at the Ministry of justice are worth QR831,613,172, the real estate registration ...

 Sep 30 2014 - HITC Honours Media for Success of Kulluna CampaignQatar News Agency
(MENAFN - QNA) The Hamad International Training Centre (HITC) honoured over 50 representatives from media, healthcare and corporate executives for their contribution towards the success of its ...

 Sep 30 2014 - Power of social mediaArab News
(MENAFN - Arab News) This is with reference to the article 'Shift in US public discourse on ME' (Sept. 29) by Jamal Doumani. It is very true that with the advent of social media things have started ...

more...


 






Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

IPO News
Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

US Markets Details

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Investment Game
Economic Calendar
Financial Glossary

My MENAFN
Portfolio Tracker

Voting

Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2000 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help