The world of VIP completions was turned on its head here last night when new provider AMAC Aerospace Switzerland declared that it would take on industry leaders Jet Aviation Basel and Lufthansa Technik and compete for projects as big as the Airbus A380.
Based at Basel-Mulhouse-Freiburg Airport, the company has been set up with an initial capitalisation of $48 million and plans to open for business in September, offering maintenance and refurbishment as well as completions.
“When we launch we will be the third-largest completions centre in the world,” says AMAC chairman Kadri Muhiddin. “We’re going to start big and have another $48m earmarked for further expansion.” The company plans to open a 4,200m2 hangar this autumn and to add a second of 8,200m2 in order to be able to accommodate up to two narrowbodies and two widebodies at a time.
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Chairman Kadri Muhiddin and CEO Heinz Kohli the former head of Jet Aviation, now in completions competition. |
The company has already secured its first completions contract, for an Airbus A320 already delivered to Basel-Mulhouse-Freiburg, and is in negotiations for several more. “We’re in advanced discussions relating to an Airbus A380, a Boeing 747-8 Intercontinental, plus 767s and A330s,” Muhiddin said. “And we’re talking to government fleet operators of Airbus ACJs and Boeing BBJs about contracts for maintenance and interior refits.”
The AMAC business plan projects annual revenues of SwFr100-130 million from all activities by 2011. The company expects to be profitable after its first year of operations and to employ up to 300 people by the end of the third year.
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Source: Flight Daily News
