MROAM: First Aviation Services on growth path

Washington DC
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First Aviation Services' subsidiary Piedmont Propulsion Systems signed a ten-year agreement with a major airline for propeller maintenance, repair and overhaul services for the Bombardier Dash 8 Q400 fleet at the MRO Americas show in Atlanta this week.

Connecticut-based First Aviation Services is planning to grow its MRO services following a deal that closed last month to sell the majority of its stake in Aerospace Products International. The MRO provider says that it saw revenues up 20% for the first quarter of 2013 due to record sales at North Carolina-based Piedmont as well as its other company, Wichita-based Aerospace Turbine Rotables.

First Aviation is on the way to expanding with further acquisition opportunities, says the company's chairman and chief executive Aaron Hollander in a release.

"We are very fortunate to maintain strong leadership positions in each of the MRO segments we currently serve," says Hollander. "While we continue to add organically to our capabilities on an ongoing basis, we are also exploring a number of potential acquisitions which will increase both our operational capabilities and geographic reach" he says.