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October 2017

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AAR has agreed to acquire two of Premier Aviation’s  aircraft MRO facilities – one at Trois-Rivières Airport in Quebec and one at Windsor International Airport in Ontario. Premier Aviation established the Trois-Rivières facility in 2002 and expanded it to 13,940m² in 2011. The facility can accommodate up to seven narrowbody aircraft. Premier began operating in Windsor in 2012 in a new 13,285m² hangar with full back shop capability and capacity for six narrowbody aircraft. The facilities have seen significant investments in tooling over the past few years and currently employ over 300 aviation mechanics and personnel who will retain their positions based on expected workload.

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GMF AeroAsia has announced its Initial Public Offering (IPO). A maximum of 10,890,068,700 new shares will be offered to the public. The amount represents a maximum of 30% of the company’s issued and paid-up capital subsequent to the IPO, with 20% of the portion allocated for public investors and 10% allocated for strategic investors.

 

GMF President Director Iwan Joeniarto said that the IPO is a strategic move for GMF to realise its vision of being in the Top 10 MROs in The World, with revenue reaching $1 billion in 2021. He added that the IPO would be held to generate the funding needed to plan GMF’s future expansion. Approximately 60% of the net proceeds from the IPO will be used by GMF for financing investment in order to improve capacities and capabilities in MRO and line maintenance, with approximately 15% for refinancing, and the remainder for working capital purposes.

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StandardAero has announced that Associated Air Center (AAC), the company’s Large Transport Category VIP Completions Center, will cease operations and close its Dallas Love Field facilities at the end of this year. After a thorough analysis, StandardAero has concluded that the business case for continuing to operate AAC is no longer an economically viable option for the company and its investors. Current and future work volumes do not support the fixed costs necessary to operate the facility. In addition, the limited pipeline for new business opportunities, excess industry capacity and slowing demands in the VVIP aircraft marketplace have all contributed to this decision. The decision also aligns with the company’s near-term growth strategy and actions to strengthen StandardAero’s portfolio by expanding its core engine MRO capabilities.

 

Between now and the end of 2017, StandardAero will be assisting impacted employees, helping them to find positions in other StandardAero business units and providing a variety of company-funded redeployment and outplacement assistance and services.

 

Over the next few months, AAC will operate in a business-as-usual manner to complete obligations on current contracts, service warranties and finish projects committed to existing customers. The company will maintain as many employees as necessary to ensure customers are properly supported until all projects have been completed.

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