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SR Technics Sold To UAE  
User currently offlineZRH From Switzerland, joined Nov 1999, 5568 posts, RR: 35
Posted (8 years 2 weeks 2 days 2 hours ago) and read 3697 times:

SR Technics with headquarters at Zurich airport is the biggest civil aircraft maintenance company which is independent from any airline. It was the former Swissair maintenance division which, after Swissair bankruptcy, was taken over by two investment companies, 3i and Star Capital. They now sold it for 1.6 billion CHF (1.3 bi $) to companies in Dubai and Abu Dhabi, which of course means Emirates and Etihad. They say that the headquarter will be kept in Zurich but that they want to expand heavily.

[Edited 2006-09-08 14:12:00]

[Edited 2006-09-08 14:13:22]

29 replies: All unread, showing first 25:
 
User currently offlineSwissairtaz From Switzerland, joined Jul 2004, 126 posts, RR: 0
Reply 1, posted (8 years 2 weeks 2 days 2 hours ago) and read 3674 times:

Quoting ZRH (Thread starter):
which of course means Emirates and Etihad

Where did you get those informations?



md11 forever
User currently offlineVatry From Ireland, joined Sep 2004, 104 posts, RR: 0
Reply 2, posted (8 years 2 weeks 2 days 2 hours ago) and read 3674 times:

Irish financials this morning had it as DUBAI AEROSPACE ENTERPRISE, MUBADALA DEVELOPMENT and ISTITHMAR. Presume they're related to UAE carriers in some form?

User currently offlineSwissairtaz From Switzerland, joined Jul 2004, 126 posts, RR: 0
Reply 3, posted (8 years 2 weeks 2 days 2 hours ago) and read 3652 times:

I know SRT was sold to companys from the UAE but never heard SRT will be a part of Emirates or Etihad. Did i miss something?


md11 forever
User currently offlineZRH From Switzerland, joined Nov 1999, 5568 posts, RR: 35
Reply 4, posted (8 years 2 weeks 2 days 2 hours ago) and read 3652 times:

Quoting Swissairtaz (Reply 1):
Where did you get those informations?



Quoting Vatry (Reply 2):
Irish financials this morning had it as DUBAI AEROSPACE ENTERPRISE, MUBADALA DEVELOPMENT and ISTITHMAR. Presume they're related to UAE carriers in some form?

I got it from the Neue Zürcher Zeitung which is one of the most reliable newspapers in the world. The refer to those two airlines in their article. Of course the buying companies are not subsidiaries of the airlines but it is quite obvious.
http://www.nzz.ch/2006/09/08/wi/articleEGFWT.html (in German)


User currently offlineZRH From Switzerland, joined Nov 1999, 5568 posts, RR: 35
Reply 5, posted (8 years 2 weeks 2 days 2 hours ago) and read 3652 times:

Quoting Swissairtaz (Reply 3):
I know SRT was sold to companys from the UAE but never heard SRT will be a part of Emirates or Etihad. Did i miss something?

Not part but it will be in correlation with the expansion of these airlines as the NZZ writes. The companies which bought SRT belong to the ruler families of UAE like Emirates and Etihad.

[Edited 2006-09-08 14:38:22]

User currently offlineZRH From Switzerland, joined Nov 1999, 5568 posts, RR: 35
Reply 6, posted (8 years 2 weeks 2 days 1 hour ago) and read 3594 times:

There is BTW an other article in the NZZ of today (Sept 8) on page 30, which is unfortunately only online accessible for subscribers. There they state clearly that "Independent SRT is a Fata Morgana". The buying companies belong to the government (read ruler families) of the UAE. This buying is a strategic move to cover the expansion of the UAE airlines. That they will be independent of foreign suppliers in the future. The NZZ also thinks that they must make efforts to convince big customers, like Swiss, to stay with them. As Swiss now belongs to LH it will be interesting to see what happens. Swiss has a major maintenance company at their home base but LH has its own maintenance division.

User currently offlineSwissA330 From Switzerland, joined Mar 2002, 613 posts, RR: 15
Reply 7, posted (8 years 2 weeks 2 days 1 hour ago) and read 3585 times:

This has also been mentioned as a 'rumor' in the Swiss News-Magazine 'FACTS' last week already. They only mentioned Emirates however.

Probably makes sence for Emirates to broaden it's business. For the company and the country... (But hey, that's what Swissair -in times- thought too...)

Great to see how the value of this great company has again increased in the past couple of years. I hope they will keep their Name... Would be strange to see a large "Emirates Technics" sign in ZRH  Smile

BRPat



swissair/+/ we care
User currently offlineSwissairtaz From Switzerland, joined Jul 2004, 126 posts, RR: 0
Reply 8, posted (8 years 2 weeks 2 days 1 hour ago) and read 3578 times:

Quoting ZRH (Reply 4):
I got it from the Neue Zürcher Zeitung which is one of the most reliable newspapers in the world. The refer to those two airlines in their article. Of course the buying companies are not subsidiaries of the airlines but it is quite obvious.
http://www.nzz.ch/2006/09/08/wi/articleEGFWT.html (in German)

I read those news in the NZZ yesterday as well. The cross-connection which i found so far is that Chairman of the Emirates Group and the Chairman of DAE and the President of the Dubai Department of Civil Aviation are the same person, Shaikh Ahmad Bin Saeed Al Maktoum. We will see what will happen.



md11 forever
User currently offlineZRH From Switzerland, joined Nov 1999, 5568 posts, RR: 35
Reply 9, posted (8 years 2 weeks 2 days 1 hour ago) and read 3535 times:

Quoting SwissA330 (Reply 7):
. I hope they will keep their Name.

They said that the will keep the name. The brand is well known.


User currently offlineME AVN FAN From Switzerland, joined May 2002, 13920 posts, RR: 25
Reply 10, posted (8 years 2 weeks 1 day 22 hours ago) and read 3459 times:

Here some details of the investors :

*******************************************************
.................................................................................................

Mubadala Development Company [ www.mubadala.ae About Mubadala :] is a wholly owned investment vehicle of the Government of the Emirate of Abu Dhabi, in the United Arab Emirates. Mubadala was established in October 2002 as a Public Joint Stock Company through Emiri Decree Number 12 of 2002, issued by His Highness the Crown Prince of Abu Dhabi. Our Mandate is the establishment of new companies and the acquisition of strategic holdings in existing companies, either in the UAE or abroad. Mubadala will focus on generating sustainable economic benefits for Abu Dhabi through a careful selection of business ventures � in partnership with local, regional and international investors. Mubadala will invest in a wide range of strategic sectors including energy, utilities, real estate, public-private partnerships, basic industries and services so as to diversify and further develop the rapidly growing economy of Abu Dhabi, while achieving superior returns on its investments.
----------------------------------------------------------------------------------------------------------------------------------------------------
CTC: Mubadala Development Company, 12th Floor, ADNIC Building, Khalifa Street, PO Box 45005, Abu Dhabi, UAE -- Tel: +971 -2 -6160099 , Fax: +971 -2 -6160098

------------------------------------------------------------------------------------------------------------------------------------------------

Dubai Aerospace Enterprise, PO Box 9522, Dubai, UAE
Tel +971- 4- 329-2420 Fax +971- 4- 329-2430, E: info@dubaiaerospace.com

DAE Services: a leading aviation consultancy with media and events planning, and forward-looking technology and satellite services for the region and beyond. The services sector contains a segment to promote the Jebel Ali Aerospace cluster with conventions, fairs and publications; aviation support technology to provide advanced solutions in the greater Middle East and West Asia region; and a space service segment able to offer commercial applications to international customers.

--------------------------------------------------------------------------------------------------------------------------

ISTITHMAR, Emirates Towers, Floor 4, Sheikh Zayed Road, P.O. Box: 17000,
Dubai, United Arab Emirates, Tel: +971 4 3902100, Fax: +971 4 3903818 ,
Email: info@istithmar.ae , WEB: www.istithmar.ae ;

------------------------------------------------------------------------------------

Istithmar is a Dubai-based investment holding company for foreign & local investors. More than a corporate advisor, Istithmar also acts as a business partner by providing initial financial leverage, so your prosperity is in our best interest. This, combined with vast intellectual resources, provides the catalyst for certain success.


*******************************************************
-
while owned by the Emirates of Abu Dhabi and Dubai not part of either Etihad or Emirates
-


User currently offlineCV990 From , joined Dec 1969, posts, RR:
Reply 11, posted (8 years 2 weeks 1 day 21 hours ago) and read 3422 times:

Hi!

First of all thanks ZRH for your excelent information! Regarding this sale I seriously hope that SR Technics keeps their identity and their way to keep the things going on! I don't think UAE can teach anything to any company in Switzerland and I really hope that is merely a financial aquisition!!!
Regards


User currently offlineA389 From United Arab Emirates, joined Jan 2005, 59 posts, RR: 0
Reply 12, posted (8 years 2 weeks 1 day 20 hours ago) and read 3396 times:

I read the news this morning in Gulfnews..... also available on internet:

http://www.gulfnews.com/business/Aviation/10065838.html

There's also another article about the EK Beijing route!

Is there anything that they are not going to take over?  Smile

A389


User currently offlineJacobin777 From United States of America, joined Sep 2004, 14968 posts, RR: 59
Reply 13, posted (8 years 2 weeks 1 day 19 hours ago) and read 3359 times:

Quoting A389 (Reply 12):
Is there anything that they are not going to take over?  Smile

ORD-LGA, ORD-DFW, SFO-LAX, MAN-LHR...... Smile



"Up the Irons!"
User currently offlineTayaramecanici From United Kingdom, joined Sep 2006, 224 posts, RR: 0
Reply 14, posted (8 years 2 weeks 1 day 17 hours ago) and read 3297 times:

Greetings everybody, i have decided to jump onboard at-last having been a guest for long, its this topic.....

Is it possible that DXB and AUH are trying to corner GF thru SRT ? Apparently GF was the designated airline on all bilaterals signed by UAE before the birth of EK/EY. After GF signed a exclusive maintenance contract with SRT, to mitigate any risks of having GAMCO as a maintenance provider at the start of this year, i wonder if this deal makes GF vulnerable once again.
Additionally could also be an early indication of a possible merger of EK / EY. As both were competing directly till date. I am sure you'll are aware of the airline side of story, as far maintenance goes EK has recently constructed a humongous (8 A380 bay hangar) maintenance facility to compete with Gamco a subsidiary of EY.

It will be interesting to note how GF reacts to these developments.



''You are as good as your nearest competitor'' Bob Crandall.
User currently offlineJacobin777 From United States of America, joined Sep 2004, 14968 posts, RR: 59
Reply 15, posted (8 years 2 weeks 1 day 16 hours ago) and read 3253 times:

Quoting Tayaramecanici (Reply 14):
Greetings everybody, i have decided to jump onboard at-last having been a guest for long, its this topic.....

Is it possible that DXB and AUH are trying to corner GF thru SRT ? Apparently GF was the designated airline on all bilaterals signed by UAE before the birth of EK/EY. After GF signed a exclusive maintenance contract with SRT, to mitigate any risks of having GAMCO as a maintenance provider at the start of this year, i wonder if this deal makes GF vulnerable once again.
Additionally could also be an early indication of a possible merger of EK / EY. As both were competing directly till date. I am sure you'll are aware of the airline side of story, as far maintenance goes EK has recently constructed a humongous (8 A380 bay hangar) maintenance facility to compete with Gamco a subsidiary of EY.

It will be interesting to note how GF reacts to these developments.

1)welcome to A.net..... Smile
2)GF has been having a heck of a lot problems as it is, especially now that they aren't getting a lot of support from the Emirates...I think they will focus on their core routes out of BAH and use their 6th freedom flights out of DXB and AUH, as well as use their codeshare partners such as AA, BD to add extra income.....

3)I don't see EY/EK merging..they seem to be doing fine on their own.....EK is going in another direction also....I think they want to make Dubai into a "one stop shop" for aircraft leasing, repairing, etc....

cheers.



"Up the Irons!"
User currently offlineTayaramecanici From United Kingdom, joined Sep 2006, 224 posts, RR: 0
Reply 16, posted (8 years 2 weeks 1 day 16 hours ago) and read 3239 times:

Quoting Jacobin777 (Reply 15):
)I don't see EY/EK merging..they seem to be doing fine on their own.....EK is going in another direction also....I think they want to make Dubai into a "one stop shop" for aircraft leasing, repairing, etc....

cheers.

Cheers mate,

So you think DXB is comfortable with a competitor existing 20mile to the north, in the same business segments i.e Airlines EK vs EY, Maintenance DAE vs GAMCO, Leasing DAE vs OASIS. And, this competitor has the financial backing of revenue from 3m barrels of oil per day.

nah.........they had to see the light soon.



''You are as good as your nearest competitor'' Bob Crandall.
User currently offlineME AVN FAN From Switzerland, joined May 2002, 13920 posts, RR: 25
Reply 17, posted (8 years 2 weeks 1 day 13 hours ago) and read 3199 times:

Quoting Tayaramecanici (Reply 16):
DXB is comfortable with a competitor existing 20mile to the north, in the same business segments i.e Airlines EK vs EY,

Dubai and Abu Dhabi are business rivals in most possible respects. Emirates was founded exactly because only Abu Dhabi was shareholder in Gulf Air, together with Bahrain, Qatar and Oman, and Gulf Air therefore neglected Dubai. Both Emirates however were the founders of the UAE, in spite of all rivalry. So that a merger of Emirates and Etihad Airways is not really on the agenda, co-operation on particular fields, as shown right now, does happen. Whether "comfortable" or not, that rival is reality. But rivalry does NOT make close co-operation impossible. If you look to ZRH & GVA, then you have two "classic" rivals in regard to air-traffic, banking, tourism, events, general business, everything. Zurich and Basle were and are rivals in regard to the exhibition business, and now have a joint exhibition company co-ordinating events between both cities. Why should AUH & DXB not also doing such things.


User currently offlineTayaramecanici From United Kingdom, joined Sep 2006, 224 posts, RR: 0
Reply 18, posted (8 years 2 weeks 1 day 6 hours ago) and read 3138 times:

Quoting ME AVN FAN (Reply 17):
If you look to ZRH & GVA, then you have two "classic" rivals in regard to air-traffic, banking, tourism, events, general business, everything. Zurich and Basle were and are rivals in regard to the exhibition business, and now have a joint exhibition company co-ordinating events between both cities. Why should AUH & DXB not also doing such things.

NYC and Chicago, Tokyo and Osaka also compete between themselves for the same business segment. In India, you see Hyderabad, Bangalore and Chennai vigorously competing for the same Knowledge and Automobile industries. GVA airport was never close to ZRH as a hub though.
However in the case of DXB and AUH their rivalry extends beyond creating a healthy business competition, it is obvious when both are competing for the same Manpower, Pax and traffic rights costs escalate beyond yields. It depends on how long each player can pay to stay in Business, basically both, atleast EY is at present buying market share . EK and EY had a unwritten agreement not to poach each others core staff i.e. Pilots and Engineers. EY has been offering nearly 50% higher wages to EK staff wishing to join. As you mention the example of GVA and ZRH, probably the owner of EK and EY don't want to repeat the same foolish mistake that led to the downfall of SwissAir.

Having said that, to a certain degree i accept your view, this could be a one off partnership, Towards cornering GF. Its early days.



''You are as good as your nearest competitor'' Bob Crandall.
User currently offlineJacobin777 From United States of America, joined Sep 2004, 14968 posts, RR: 59
Reply 19, posted (8 years 2 weeks 1 day ago) and read 3051 times:

Quoting Tayaramecanici (Reply 16):

So you think DXB is comfortable with a competitor existing 20mile to the north, in the same business segments i.e Airlines EK vs EY, Maintenance DAE vs GAMCO, Leasing DAE vs OASIS. And, this competitor has the financial backing of revenue from 3m barrels of oil per day.

ME AVN FAN explained it properly in post 17 so I need not to add to his post...

Quoting Tayaramecanici (Reply 18):
However in the case of DXB and AUH their rivalry extends beyond creating a healthy business competition, it is obvious when both are competing for the same Manpower, Pax and traffic rights costs escalate beyond yields.

Not exactly..at least yet....not to mention, both cities are growing quite a bit.also.how is one to know where it will end until one takes chances...?

EK is certaily the stronger of the two carriers and the one probably to survice..but EY is doing fine right now.....

GF obviously needs to refocus...they have a good hub in BAH which they should take advantage of....



"Up the Irons!"
User currently offlinePlaneHunter From Germany, joined Mar 2006, 6808 posts, RR: 77
Reply 20, posted (8 years 2 weeks 23 hours ago) and read 3032 times:

Quoting Tayaramecanici (Reply 14):
Additionally could also be an early indication of a possible merger of EK / EY. As both were competing directly till date.

No way both would merge - EY was created in order to compete and to build up a strong home carrier at AUH.

Quoting Tayaramecanici (Reply 16):
So you think DXB is comfortable with a competitor existing 20mile to the north, in the same business segments i.e Airlines EK vs EY, Maintenance DAE vs GAMCO, Leasing DAE vs OASIS. And, this competitor has the financial backing of revenue from 3m barrels of oil per day.

20 miles? Have you ever shuttled between AUH and DXB?
And of course both try to be active in any business segment, no matter if maintenance or leasing.

Quoting Tayaramecanici (Reply 18):
As you mention the example of GVA and ZRH, probably the owner of EK and EY don't want to repeat the same foolish mistake that led to the downfall of SwissAir.

Totally different story.

Quoting Tayaramecanici (Reply 18):
Having said that, to a certain degree i accept your view, this could be a one off partnership, Towards cornering GF. Its early days.

GF is no threat for both EK or EY.


PH



Nothing's worse than flying the same reg twice!
User currently offlineTayaramecanici From United Kingdom, joined Sep 2006, 224 posts, RR: 0
Reply 21, posted (8 years 1 week 6 days 22 hours ago) and read 2921 times:

Quoting PlaneHunter (Reply 20):
20 miles? Have you ever shuttled between AUH and DXB?
And of course both try to be active in any business segment, no matter if maintenance or leasing.

Lived there, seen it,worked there, got married, in-laws there. Know the place better than U.K. my present permanent residency for the last 6yrs.

Quoting PlaneHunter (Reply 20):
GF is no threat for both EK or EY.

As per the bilaterals between India and UAE, GF is the designated airline, could be the same with many more countries. EK traffic rights come under a MOU. So visualise One World buying a stake / ownership in GF and you can see the Nightmare scenarios.

[Edited 2006-09-10 17:58:12]


''You are as good as your nearest competitor'' Bob Crandall.
User currently offlinePlaneHunter From Germany, joined Mar 2006, 6808 posts, RR: 77
Reply 22, posted (8 years 1 week 6 days 20 hours ago) and read 2875 times:

Quoting Tayaramecanici (Reply 21):
Lived there, seen it,worked there, got married, in-laws there. Know the place better than U.K. my present permanent residency for the last 6yrs.

Then you should know well that the distance between the city centers is almost 80 miles (130 kilometers).

Quoting Tayaramecanici (Reply 21):
As per the bilaterals between India and UAE, GF is the designated airline, could be the same with many more countries.

GF doesn't even operate nonstops between the UAE and India any more.


PH



Nothing's worse than flying the same reg twice!
User currently offlineTayaramecanici From United Kingdom, joined Sep 2006, 224 posts, RR: 0
Reply 23, posted (8 years 1 week 6 days 19 hours ago) and read 2853 times:

Quoting PlaneHunter (Reply 22):
Then you should know well that the distance between the city centers is almost 80 miles (130 kilometers).

Why should i travel to AUH citycentre on my way to AUH airport from DXB. The AUH airport is to the north of the city, you cross it on the way to AUH city and dubai is growing soutwards towards the AUH borders. DXB city centre is in the north at Deira 5miles from Sharjah. I flew EY to AUH in April'06. It took us 1hr flat by coach (45min by car) from AUH airport to EY terminal in DXB on shaikh Zayed rd, most of the new developments are coming up north of Shaikh Zayed rd. The pax catchment of DXB is now moving closer to AUH, given the state of road and traffic in DXB it is more convenient to travel to AUH airport rather than DXB airport for pax living in the more affluent suburbs of DXB.

Quoting PlaneHunter (Reply 22):
GF doesn't even operate nonstops between the UAE and India any more.

True and the reason being GF wanted to concentrate on BAH and MCT hubs. Doesn't negate the exisiting threat though.



''You are as good as your nearest competitor'' Bob Crandall.
User currently offlineME AVN FAN From Switzerland, joined May 2002, 13920 posts, RR: 25
Reply 24, posted (8 years 1 week 6 days 11 hours ago) and read 2788 times:

Quoting Tayaramecanici (Reply 23):
EY terminal in DXB

is this EY-terminal in the Jebel Ali area ? Because 45mins would mean exceeding the speed limits quite heavily, in spite of the many radar controls on the Sh.ZayedHwy.


25 EK156 : A merger between EK and EY will NEVER happen. The two airlines will flourish due to competition between these two emirates. I have lived in the UAE f
26 Tayaramecanici : ''Flourish due to competition'', EK is already feeling the heat from Air Arabia operating out of SHJ. Read the statements of their country manager in
27 Post contains images PlaneHunter : Can you post a source please? I doubt that an airline with more than 90 widebodies "feels the heat" from a purely LCC operator with six A320s. There
28 ME AVN FAN : Which means that driving by hired motor car from Abu Dhabi will take far longer than an hour, unless insanely speeding. I have been in the Jebel Ali
29 Tayaramecanici : Please go to the topic ''Why a diff airline for Dubai and Abudhabi'', same subject.
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