Canadian completions and conversions specialist Flying Colours is on its way to establishing a presence beyond North America, after agreeing a deal with a Hong Kong-based provider of business aviation services.
Under a memorandum of understanding the firm was due to sign with Metrojet at the National Business Aviation Association convention in Las Vegas, Nevada, on 10 October, Flying Colours envisages an Asian "base of operation".
This will be focused on the interior refurbishment of mid- to large-size business aircraft, including the Bombardier Global Express and Challenger types, Dassault's Falcon range and Embraer, Hawker Beechcraft and Gulfstream models.
The Peterborough, Ontario-based company last month indicated that talks with Metrojet, a maintenance specialist, had been under way since the beginning of the year.
Delivery of a Flying Colours-completed aircraft to Metrojet had "grown the relationship", and there has been "a lot of referral work on both sides".
Sean Gillespie, Flying Colours' director of sales and marketing, characterised Asian business aviation as "a new-airplane market", adding: "They're all going to need refurbs in four, five, six, seven years. If you have a base there that has proven capabilities, there's an untapped market."
Flying Colours undertook due diligence of Metrojet as a precursor to the memorandum.
The structure and logistics of the partnership are to be ratified in mid-2012, but the Canadian company does not expect to embark on construction of a new facility.