China’s HNA Group and Bravia Capital of New York have signed an agreement to acquire a majority stake in myTECHNIC, based in Istanbul, Turkey. The company is the first Lean/zero waste, greenfield MRO center in the world. It’s an expansion of HNA’s global footprint into the high-growth marketplace in the region.
Opened in 2008, myTECHNIC is an EASA-licensed, lean Aircraft MRO center, located in Sabiha Gökçen International Airport (SAW) on the Asian side of Istanbul. The site spans nearly 650,000 square feet and includes 166,000 square feet of hangar bay; 267,000 square feet of shops, office area and storage area; and 65,000 square feet of engine shops. The facility’s innovative Lean design contains three stories with no fixed service bays, allowing maximum flexibility for capacity planning and scheduling.
Istanbul’s Sabiha Gökçen International is one of the world’s fastest-growing airports, with annual passenger capacity exceeding 25 million. Its geographical location at the border of Asia and Europe makes it ideally suited to serve not just the domestic Turkish market, but surrounding countries in Europe, Asia, and North Africa as well.
According Jianping Dang, President of Grand China Aviation Technik, “HNA Group is a worldwide leader in aviation, and myTECHNIC is representative of our strategy to invest in global transportation hubs with the highest growth potential. In addition, we anticipate being able to generate significant synergies between myTECHNIC and HNA’s aircraft and engine maintenance businesses. We are extremely excited to add myTECHNIC to our portfolio of world-class transportation companies and look forward to establishing a strong relationship between Turkey and China.”