Russian company buys Jet Aviation’s Moscow MRO operation
In an unprecedented deal for the Russian aircraft maintenance, repair and overhaul (MRO) industry, Russian company VTS Jets has acquired Jet Aviation Moscow Vnukovo’s maintenance station from its Swiss founder and owner Jet Aviation, which in turn is part of the USA’s General Dynamics Corporation.
Financial details of the transaction, which was completed on September 9, have not been disclosed, but insiders suggest the sale may have been prompted by the fact that Jet Aviation is itself owned by US aerospace and defense company General Dynamics bearing in mind the current international sanctions imposed on Russia by western countries.
Andrey Akopov, general director of VTS Jets confirmed to ATO.ru, Russian Aviation Insider’s sister publication, that his company has purchased the Russian entity Jet Aviation Vnukovo Ltd, in a deal which includes all of its equipment. Some 30 personnel will continue working for the Vnukovo-3-based company under the new owner.
VTS Jets is owned by Jetport, a company also located at the Vnukovo-3 business aviation centre. Jet Aviation Moscow Vnukovo will be re-branded as Jetport Technics, but will legally remain a separate company, a 100 per cent subsidiary of VTS Jets.
Since 2010, Jet Aviation Moscow Vnukovo has been providing maintenance services, defect rectification and AOG services as well as cabin refurbishments, including complete makeovers, on Bombardier, Gulfstream, Embraer and Hawker business jets. It holds approvals from Russian, European and US aviation authorities, as well as from the regulators of the ‘off-shore’ registrations of Aruba, Bermuda and Cayman Islands, the aircraft registries currently most popular with Russian business jet owners.
According to Akopov, VTS Jets, which specialises in line maintenance for Bombardier business jets, is interested in its new subsidiary’s approvals and certificates. “The company is handed over to us in full working order and it will not stop operations once it changes hands. In the future we intend to continue developing its business aviation aircraft maintenance capabilities to complement the resources of VTS Jets,” he added.
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