October 11, 2012
Mubadala Aerospace expects its portfolio of MRO services to grow in the near future, as group CEO James Stewart focuses on global reach and scale.
The company “is doing very well in the market” and “is positioned to take advantage when an opportunity comes up,” says Stewart. The Mubadala Aerospace MRO Network includes SR Technics, Abu Dhabi Aircraft Technologies and Sanad.
“I’m comfortable where we are in MENA [Middle East and North Africa] and Europe,” Stewart says. “It probably makes sense to have something in Asia.” The group also doesn’t have a physical presence in the Americas, but Stewart would not comment on whether Mubadala is interested in acquiring any pieces from bankrupt Aveos in Canada.
When pressed about what services or technologies he would like to add, Stewart says “we are listening to customers and their financial needs, we understand their challenges are will work diligently to deliver” what they require.
Mubadala launched Sanad in 2010 to provide engine and component leasing, which has helped Sanad win some big engine deals by coordinating the powerplant financing with aftermarket support.
Stewart predicts further consolidation in the MRO market. “Just look at what’s happening with airlines” and component manufacturers, he says. “We’ll be [in the] vanguard, [but] we’ll be patient” in looking for the right growth opportunity.
In the meantime, Mubadala is crafting collaborative agreements such as one announced on Oct. 9 with Vostok Technical Service in Moscow. SR Technics is helping the Russian MRO gain an EASA Part 145 maintenance approval and widen its capabilities for various Airbus and Boeing aircraft. This technical cooperation also includes people and process development, such as continuous improvement programs. The deal expands SR Technics’ global line maintenance strategy and provides it with a Russian based partner.