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December 2018

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AerSale has acquired aircraft component repair specialist Avborne. Avborne is a certified FAA 145 repair station in Miami, FL, covering a broad range of commercial and military aircraft systems, including hydraulic, pneumatic, electronic, and landing gear components. Avborne’s in-house engineering development team is continuously introducing repair and overhaul regimes as one of the few component MROs operating today under the authority of an FAA Open Class Rating. This licensing allows Avborne to initiate its own FAA repair validation packages for expedited introduction of new repair and overhaul capabilities well in advance of traditional MRO participants. In conjunction with AerSale’s existing MRO facilities, the acquisition of Avborne will enable AerSale to provide complete MRO services across numerous aircraft platforms, from the component level through aircraft heavy maintenance.

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SIAEC Group recorded a profit attributable to owners of the parent of $78.5 million for the half year ended 30 September 2018. Revenue of $509 million saw a decrease of $38.5 million or 7%, mainly from lower airframe and fleet management revenue. Expenditure came down by $21.2 million or 4.2%, mainly from lower material and subcontract services costs, as well as an exchange gain of $1.7 million compared to an exchange loss of $2.8 million in the corresponding period last year. Operating profit at $21.5 million was $17.3 million, or 44.6% lower.

 

Share of profits of associated and joint venture companies increased $18.4 million or 41.8% to $62.4 million, with the engine and component centres contributing $62.1 million, an increase of $18 million or 40.8%, while the airframe and line maintenance segment earned a profit of $0.3 million, a turnaround from a $0.1 million loss incurred in the same period last year.

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