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 18 2014 - Qatar- HE Premier Sends Congratulations to President of ChileQatar News Agency
(MENAFN - QNA) HE the Prime Minister and Interior Minister Sheikh Abdullah bin Nasser bin Khalifa Al-Thani sent Thursday a cable of congratulations to President of the Republic of Chile Michelle ...

 Sep 18 2014 - US House Passes Obama's Syria Military PlanQatar News Agency
(MENAFN - QNA) The US House of Representatives has approved President Barack Obama's plan to train and equip moderate Syrian rebels to counter the growing threat of the Islamic State organization ...

 Sep 18 2014 - US won't fight another Iraq ground war: ObamaArab News
(MENAFN - Arab News) MACDILL AIR FORCE BASE: Florida: President Barack Obama vowed on Wednesday the United States will not fight another ground war in Iraq seeking to reassure Americans about the ...

 Sep 18 2014 - US strikes boost IS more hostages possible: FBIArab News
(MENAFN - Arab News) WASHINGTON: Support for Islamic State increased after US airstrikes began in Iraq and the militant group may take more hostages to try to force concessions from Washington the ...

 Sep 18 2014 - Apparel Group to open 50 new stores in KSAArab News
(MENAFN - Arab News) Dubai-based Apparel Group most recognized for its portfolio of international fashion and accessories brands brings yet another fashion chain to the Middle East.R&B the ...

 Sep 18 2014 - Zain KSA launches iPhone pre-ordering FridayArab News
(MENAFN - Arab News) Zain KSA announced that it will launch the pre-ordering for the new Apple devices iPhone 6 and iPhone 6 plus on Friday enabling customers to pre-order their device from Zain ...

 Sep 18 2014 - Dubai, Azerbaijan discuss way to strengthen tiesMENAFN
(MENAFN) The Dubai Chamber of Commerce and Industry announced it had a meeting with several Azerbaijani banks as part of their efforts to enhance UAE"Azerbaijan bilateral banking ties, Khaleej Times ...

 Sep 18 2014 - Bahrain, Kazakhstan to boost trade tiesMENAFN
(MENAFN) Bahrain said it is looking forward to boost ties with Kazakhstan following the Bahraini King's recent visit, which resulted in many agreements and memoranda of understanding being signed in ...

 Sep 18 2014 - Batelco, Milestone sign key dealMENAFN
(MENAFN Bahraini Batelco announced it has signed signed a deal with Milestone, a provider of open platform Internet Protocol video management software, Gulf Daily News reported.Batelco, which has ...

 Sep 18 2014 - Mashreq eyes acquisitions in Egypt, TurkeyMENAFN
(MENAFN) Dubai's Mashreq announced it is planning to target acquisitions in Egypt and Turkey as it tries to expand beyond its home market, Gulf Daily News reported.Mashreq, Dubai's third-largest bank ...

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