MAEL turnover up 5% on third-party expansion

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UK maintenance provider Monarch Aircraft Engineering (MAEL) has registered 5% higher revenues in 2012 due to a rise in third-party activity.

The Luton-based MRO company has recorded a turnover of around £82 million ($131 million) in 2012, while last year's figure stood at £75 million.

The share of third-party work increased from 18% in 2010 to 27% this year, and is to set to grow to "almost 40%" over the next three years, says MAEL.

One key contract this year was a Boeing 787 line maintenance support deal with Polish carrier LOT, which became Europe's first operator of the type in November.

MAEL is building its third heavy maintenance facility at Birmingham airport. The greenfield hangar - capable of accommodating two 777-sized widebodies - will be located north of the hub's general aviation and maintenance complex. It is due to open at the end of 2013.