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Abu Dhabi, UAEMonday 20 August 2018

Mubadala units sign pact with Ethiopian Airlines amid Africa expansion

The agreements for maintenance services and financial solutions will support the carrier's fleet

Mubadala Investment Company units TS&S and Sanad sign an agreement with Ethiopian Airlines. Courtesy TS&S
Mubadala Investment Company units TS&S and Sanad sign an agreement with Ethiopian Airlines. Courtesy TS&S

Abu Dhabi strategic firm Mubadala Investment Company, through two wholly-owned units, and Ethiopian Airlines signed an agreement for maintenance services and financial solutions to support the African carrier's fleet.

Turbine Services and Solutions signed a memorandum of understanding to collaborate with the airline on setting up auxiliary power unit capabilities and an engine on-wing care center, TS&S said in a statement on Monday. Sanad Aero Solutions will explore financing and leasing opportunities with the carrier as part of the agreement.

"Our agreement with Ethiopian Airlines marks a significant milestone for TS&S as we continue to extend our global partnerships with some of the world’s most promising international carriers," Mansoor Janahi, acting chief executive officer at TS&S, said. "The collaboration builds on our strategy to grow our capabilities and maintain our competitiveness in the global maintenance, repair and overhaul industry.”

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TS&S, an MRO provider for gas turbines and driven equipment, is a unit of Mubadala comprised of aerospace and industrial businesses. TS&S Aerospace provides MRO services for a variety of aircraft engines on Airbus A330 and A320 jets and Boeing 787 and 777.

"Ethiopian stands to benefit from this agreement by boosting its diverse repair, maintenance and overhaul capabilities through innovative technologies," Tewolde Gebremariam, Group Chief Executive Officer of Ethiopian Airlines, said.

Ethiopian Airlines is Africa's biggest carrier.

"The agreement will also facilitate an additional financing and leasing option for our growing MRO services, creating a win-win situation for all parties involved as they partner with the leading MRO service provider on the African continent," Mr Gebremariam said.

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