MAS Aerospace Engineering, the MRO arm of Malaysia Airlines, aims to increase revenues three-fold over the next three years.
The company will generate 1 billion Malaysian ringgit ($287 million) in revenues by 2010, and that should increase to 3 billion Malaysian ringgit by 2013, says Azmil Zahruddin, CEO and Managing Director of MAS.
Much of this will come from third-party MRO work which, he adds, will comprise 60% of revenues by 2013.
"Productivity has increased from 32% in 2005 to an average of 80% today," he says. "The number of customer airlines has grown to over 100. It is in a good position to capitalise on the required MRO services for aircraft which will be commissioned for flight once the economy recovers."
The company is acquiring expertise in the fleet technical management, components servicing and training segments. It will continue to add to that, he adds.
MAE also has joint ventures with GMR, Alenia and EADS that have allowed the company to grow. Its aim is to focus on commercially-driven joint ventures instead of technology acquisiton. The company will also grow organically instead of through M&A deals, adds Azmil.