Mubadala firms sign deal with Virgin Australia
Zurich, August 3, 2011
Mubadala-owned SR Technics and Sanad Aero Solutions have signed major component maintenance and technical training agreements with Virgin Australia.
Leveraging the full scope of Mubadala Aerospace’s global MRO capabilities, some services will also be completed out of Abu Dhabi Aircraft Technologies (ADAT), SR Technics’ sister company.
These agreements will cover full nose-to-tail integrated component solutions (ICS); and are complemented with a component financing solution from Sanad Aero Solutions, a statement said.
The first contract, an ICS agreement, will initially support the airline’s first two Airbus A330, delivered in May 2011. This will extend to cover at least five A330 aircraft in 2013 as the airline expands its fleet.
The contract includes component exchange, repair, engineering and logistics services, as well as access to the SR Technics’ components pool and component management services, covering a complete package of components including APU and Engine LRUs.
Under this agreement SR Technics will manage component inventory pools in Zurich, Switzerland and Melbourne, Australia. The ICS has been established in less than six months from initial request to go-live, the statement said.
Sanad Aero Solutions, also part of Mubadala’s Aerospace unit, is party to the agreement for the provision of a comprehensive spare inventory solution.
To further support the phasing-in programme a general training agreement has been signed with SR Technics’ Training Services, to provide training for the next four years.
The scope of this agreement covers B1 and B2 type training and specialised courses, such as engine borescoping. The training is run in Melbourne and marks SR Technics’ entry into the MRO training arena in Australia.
“This is a clear demonstration of the strength of the combined approach of Mubadala Aerospace’s maintenance and financing businesses coming together. Together we can offer our industry partners, such as Virgin Australia, a truly integrated solution, tailored to their requirements,” said James Stewart, chief executive officer of SR Technics. “We see these contracts as the cornerstones for increased engagement for SR Technics in Australia.”
Troy Lambeth, Sanad CEO, added: “We are excited to see another example of the market’s appetite for our expanding product offering in support of SR Technics and ADAT. This component spare inventory solution provides Virgin Australia with new and sustainable options to preserve liquidity and access to new capital and we are pleased to add them as an industry partner.”
“For Virgin Australia, this innovative agreement vastly simplifies component maintenance support processes for our A330 fleet. Having just one contact for component support, regardless of manufacturer, will be a significant time saver for our Engineering team,” said Virgin Australia’s group executive operations, Sean Donohue.
“Over the course of this agreement we expect to achieve significant cost benefits for the airline.” - TradeArabia News Service
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