Mubadala Aerospace Aims High

21.07.2010 Aviation & Space
Mubadala Aerospace Aims High

Mubadala Aerospace Aims High

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Abu Dhabi's Mubadala Aerospace expects to seal aircraft component leasing deals worth up to $500 million this year and is eyeing acquisitions in the United States and Asia, its Executive Director said.

"I am hoping Sanad Aero Solutions (Mubadala's aircraft engine and components leasing company) can close 5 deals this year," Homaid al Shemmari told Reuters at the Farnborough airshow this week.

"The value would be between $30-$100 million per deal - I'm quite positive they can be done."
Al Shemmari said he wanted Mubadala's aircraft maintenance, repair and overhaul (MRO) business, which is close to sealing new deals to make parts for EADS-owned Airbus and Boeing, to target acquisitions in the United States and Asia as part of its bid to consolidate the aircraft maintenance market.
"We would like to find a model where we can consolidate the MRO market, which is very fragmented at the moment. We are hoping to expand in North America and South East Asia via partnerships or acquisition later if the right opportunity comes up", Al Shemmari said.
Abu Dhabi aspires to build itself into a regional aerospace hub, while neighbouring Dubai aims to become an aviation and logistics centre, building what is planned to be the world's largest airport.
Mubadala Aerospace is part of government-owned investment company Mubadala. Mubadala's Military MRO business already services the UAE Armed Forces and is "in talks with Qatar" about a military maintenance deal, Al Shemmari said.

 



 
 

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