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August 2018

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Aviation Technical Services (ATS) has acquired Ranger Air, a supplier of aircraft component and inventory solutions located in Lewisville, TX. For over 16 years, Ranger Air has introduced innovative inventory management programs and has stocked and traded parts for virtually every commercial airframe and engine platform in the world. This acquisition launches ATS into the parts trading business and provides Ranger with access to ATS' comprehensive repair capabilities to enable a quick return-to-service.

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EGYPTAIR MAINTENANCE & ENGINEERING successfully signed maintenance agreements with 26 customers during the fourth quarter of fiscal year 2017/2018, including airlines from Europe, Asia, Africa and the Middle East to provide line maintenance, base maintenance, aircraft painting, aircraft engine overhaul and mechanical components overhaul. The company signed three agreements with European airlines for line maintenance services in its domestic and international stations approved by EASA, including Aegean Airlines in Riyadh and Jeddah; Czech Airlines in Riyadh; as well as Lithuanian airline Avion Express and Moldovan airline Fly One in Hurghada. The company will also provide line maintenance services to Kenya Airways at Khartoum. In Asia, the company signed agreements with India's Jet Airways at Riyadh and Dammam, Emirates Airline at Khartoum, and Wings of Lebanon at Sharm El Sheikh. Domestically, it supports Fly Egypt at Jeddah.

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MTU Maintenance has reported a 9% increase in 1H18 commercial maintenance revenues to €288.5 million (1H17: €1,181 million). In US dollar terms, the increase in revenues was, at 22 %, far more pronounced and once again demonstrates the high demand for maintenance services. The company is meeting this demand both by expanding and adding to the portfolio of its worldwide MRO locations. The main revenue driver was the V2500.

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SIA Engineering Company (SIAEC) recorded a profit of $40.5 million for the quarter ended 30 June 2018, an increase of $3.8 million or 10.4%, mainly from an increase in share of profits of associated and joint venture companies, partially offset by a decrease in operating profit.

 

Operating profit of $10.2 million was $8.5 million or 45.5% lower than the same quarter last year. Revenue at $257.7 million was $15.1 million or 5.5% lower year-on-year, mainly due to lower airframe and fleet management revenue. Expenditure decreased year-on-year by $6.6 million or 2.6% to $247.5 million, mainly due to an exchange gain of $2.8 million in the current quarter against an exchange loss of $1.8 million in the same quarter last year, and lower subcontract services costs.

 

Share of profits of associated and joint venture companies increased $11.3 million or 53.6% to $32.4 million, contributed by an $11.8 million increase in share of profits from the engine and component centres.

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