Middle Eastern carrier Etihad Airways is to acquire maintenance operation Abu Dhabi Aircraft Technologies, owned by investor Mubadala.
Etihad is to take over engineering assets, paint facilities and personnel to enable it to carry out airframe and component work on its expanding fleet – including its new Boeing 787s and Airbus A380s.
But Mubadala will retain the engine maintenance services which will be used to create a new powerplant-centred company.
Neither Etihad nor Mubadala has disclosed terms of the transaction.
Abu Dhabi Aircraft Technologies emerged in 2007 after Mubadala took over Gulf Aircraft Maintenance and rebranded the firm.
Etihad Airways was among the first major customers for ADAT following its creation and the carrier’s chief executive, James Hogan, says the maintenance company has been a “vital partner” to the airline.
“This acquisition will strengthen the maintenance capability of the Etihad Airways Group by bringing together critically-important functions that go the heart of ensuring safety and optimal performance of the operations,” he adds.
The maintenance functions will be opened to Etihad’s equity alliance partners as well as third-party customers.
Etihad’s senior vice-president, technical, will head the new activity. ADAT’s current chief executive, Abdul Khaliq Saeed, will instead lead the new Mubadala engine company.
Source: Cirium Dashboard