Monarch Aircraft Engineering (MAEL), the UK-based MRO provider, plans to grow its business significantly in the mid-term through a range of expansion projects.
Mick Adams, managing director, says that the company's annual turnover - which stands at around £85 million ($135 million) today - is expected to grow "at least 50%" over the next five years.
Third-party MRO, which currently generates about a third of the company's turnover, is set to increase to 45-50% of the total until 2015, he adds.
That will be partly driven by the construction of a two-bay widebody hangar in Birmingham as the company's third UK base-maintenance facility. The greenfield project was revealed in November and building work commenced earlier this month.
But the biggest growth is to come from office-based engineering services, such as design work and aircraft technical management.
Training too is an area for expansion. The company plans additional courses, including A350 support classes. But Adams also sees potential training revenue opportunities in non-aviation engineering sectors, such as the rail industry.
Iain Rawlinson, executive chairman of Monarch Group, says that the academy's opening was "part of a theme" to expand MAEL's business and become more customer-focused after the "pressures [in the aviation industry] over the last years".
While MAEL is the smallest business by revenue within the group, the MRO division was nevertheless making "as much noise" as the other divisions, which include Monarch Airlines and a number of tour operators.