Mubadala signs engine deal with GE Aviation

Paris: GE Aviation and Abu Dhabi's Mubadala Development Company yesterday signed an agreement at the Paris Air Show under which Mubadala affiliate Abu Dhabi Aircraft Technologies (ADAT) will become the world's first maintenance, repair and overhaul (MRO) network provider for GEnx engines.

"We will provide all the capital required to make it a success. This [deal] will provide high value career opportunities to Emiratis within the aerospace industry," Mubadala's Aerospace Associate Director Humaid Al Shemmari told a news conference here, announcing the agreement. He did not provide any investment figures.

Al Shemmari said the partnership with GE would help Mubadala's ambitions to build a global MRO network, while giving GE the opportunity to expand its network in the region.

Mubadala said its Paris agreement yesterday finalises one of the remaining components of the broader strategic partnership forged last year between Mubadala and GE, encompassing a broad range of initiatives including commercial finance, clean energy research and development, industry, corporate learning and aerospace.

GE Aviation and its affiliates will provide technical support and services to Mubadala's affiliate MRO companies SR Technics and ADAT, including corporate training support, comprehensive material support, and the granting of licenses to service certain GE engines.

"ADAT is investing heavily in the infrastructure, process and technology improvements to ensure that we can anticipate the future requirements of our customers. Having the full alignment and support of a partner like GE is key," said John Byers, ADAT's chief executive officer.

"GE has the fastest-growing jet engine fleet in the Middle East, and ADAT is a key component in supporting and servicing those engines," said David Joyce, President and CEO of GE Aviation.