Sabena Technics announced yesterday at Paris the formation of a 50/50 maintenance joint venture company with cargo and express freight carrier TNT Airways. It is expected that the new venture, to be based at Liege Airport in Belgium, will start operations by October.
"TNT feels maintenance is not their core business and we have the flexibility to support them," said Sabena Technics chief executive Christophe Bernardini.
The joint venture company will initially provide line and light maintenance to TNT's fleet of Boeing 737s and BAe146s. Later it will extend its services to third-party customers. As part of the deal Sabena Technics will also support aircraft components, landing gear and wheels and brakes from TNT's fleet.
The venture with TNT is the second of its type established by Sabena Technics. It has a similar arrangement with Tunisian carrier Nouvelair based in Monastir in Tunisia.
Niky Terzakis, TNT global air network director said: "This partnership with Sabena Technics will enable us to focus on our core activities and reduce our cost base."
Sabena Technics reacted quickly to the industry slowdown earlier this year with staff cuts and the closure of a heavy maintenance line. "We had to do things to be able to resist the crisis. We were not waiting for the bad news," said Bernardini.
These moves will enable Sabena Technics to be profitable this year, he said. Turnover is expected to rise from €480 million ($665 million) in 2008 to €540 million this year. The company's defence and government business has been especially successful. It won a major contract from the French Air Force to support its C-135 tankers and another to modify an Airbus A330 for the French government.
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Source: Flight Daily News
