Mubadala, a strategic investment and development company established and wholly owned by the Government of the Emirate of Abu Dhabi, is transforming the former Gulf Aircraft Maintenance Company (GAMCO) into Abu Dhabi Aircraft Technologies. The new company is targeting a $800m revenue stream by 2012, and plans to invest more than US $500 million during the same period.
Abu Dhabi Aircraft Technologies has been formed to expand the existing business and to convert the company into a total care provider,' explained Waleed Al Mokarrab Al Muhairi, COO of Mubadala. 'This will be achieved by increasing capabilities, enhancing the pool of expertise and entering new markets through partnerships, joint ventures and potential acquisitions.
Abu Dhabi Aircraft Technologies is positioned to be the foremost independent MRO provider in the Middle East and a major player in India and Europe. With leading-edge technologies and a favorable cost structure, it will provide shorter turnaround times through total maintenance solutions and classic MRO services for commercial and military airframe, engines and components.
The announcement of Abu Dhabi Aircraft Technologies is a cornerstone for Mubadala's aerospace strategy and furthers the development of the aviation sector in Abu Dhabi.
'Growth is being driven by rapid UAE and Middle East fleet expansions, with an addressable market of some US $4.5 billion. Given this scenario our goal is to grow revenue from a current consolidated base of $300m to $800m by 2012 with $500m in investment, primarily in facilities. We will leverage Abu Dhabi's premier geographic location at the heart of this growth to cater to regional, European and Asian customers,'
said John Byers, CEO of Abu Dhabi Aircraft Technologies.
'Change has been driven by industry demand as trends shift towards increased outsourcing, focused not just on cost savings, but also on service and quality. We will achieve our aim by developing several key cornerstone clients, developing value-added, knowledge-based services and expanding engine and component capabilities.'
Investment will include a state-of-the-art dedicated heavy maintenance hangar, which can accommodate three fully-adjacent B777 aircraft and will soon break ground. This will be followed by an identical hangar in the second phase of the expansion plans, taking the total number of widebody bays to thirteen.
Plans also include the construction of an A380-size, fully-automated paint hangar and of a fully-dedicated light maintenance facility at the new midfield terminal complex at Abu Dhabi International Airport, starting with a hangar capable of accommodating two, fully-adjacent A380 aircraft. Additional line stations are also planned for the midfield terminal complex to achieve maximum on-time performance for departures out of the new Abu Dhabi International Airport. Abu Dhabi Aircraft Technologies has also set up outstations to provide line maintenance services at other UAE airports, including Sharjah International, RAK International, Al Ain International as well as the Al Bateen and Al Minhad airbases to serve the UAE Air Force.
'Abu Dhabi Aircraft Technologies will be a flagship operation of Mubadala's aviation business', says Al Muhairi, 'and will bring significant benefits to the UAE capital'.
'We expect Abu Dhabi Aircraft Technologies to generate a superior return on investment, be an important addition to Mubadala's and Abu Dhabi's aerospace proposition, continue strong relationships with airline customers, create attractive and desirable employment opportunities, and further contribute to the economic diversification of the Emirate,' said Al Muhairi.