Mubadala Aerospace, the 70 per cent controlling shareholder of SR Technics, is taking its global maintenance, repair and overhaul (MRO) network to the next level with the aim of developing an integrated, value-added offering that, according to the Abu Dhabi state-owned company, “goes beyond the traditional MRO business model”.
Moreover, the move, according to Mubadala, comes as a “response to the changing global aviation services market and will include technical services and training, supply change management and traditional MRO services through its operational locations across Europe, the Middle East and Asia.
Mubadala’s MRO network encompasses ADAT in Abu Dhabi and SR Technics. Announcing the formation of a new leadership team for the network yesterday, Mubadala clarified that both SR Technics and ADAT will remain as stand-alone legal entities, while a third component, Sanad, Mubadala’s component and engine financing solutions company, will also remain a completely stand-alone entity – offering, according to the company, “a real differentiator for the network”.
After relocating from Ireland, SR Technics established a maintenance facility in Malta in late 2009, the same year that the Mubadala Development Company acquired sole control of SR Technics following a buyout of 30 per cent of shares previously owned by the Dubai-based Istithmar, which, incidentally, is also in business with the Maltese International Hotel Investments.
Having evolved from the maintenance and engineering section of the now defunct Swissair, SR Technics is one of the world’s largest independent technical solutions providers, covering most Airbus and Boeing aircraft types.
Speaking yesterday, newly-appointed Mubadala Aerospace MRO Network CEO James Stewart said: “The establishment of the global leadership team will position the Mubadala Aerospace MRO network to take us towards our goal of becoming a global market force with a unique offering of capabilities, geographic reach and scale. This will make it stand out in a challenging industry and global market environment, ensuring sustainable growth.
“Each organisation brings exceptional value to the network. ADAT is an emerging player in the industry and the largest MRO provider in the Middle East, which is experiencing exponential growth in the aviation industry and SR Technics is recognised as a global leader in quality, technical expertise and customer service.
“The near-term focus will be on developing a single go-to-market strategy through global supply chain and commercial functions, and we will be engaging all our stakeholders to ensure we develop an offering founded on long-term strategic partnerships that deliver a unique value offering, the highest standards, innovation and customer focus across the global network in a more efficient and integrated way.”