Hey there, time traveller!
This article was published 9/9/2013 (1142 days ago), so information in it may no longer be current.
The owners of StandardAero are not looking to sell the aerospace engine repair company to BAA Aviation any longer.
Dubai Aerospace Enterprises, the owners of the aerospace engine repair and overhaul operation whose Winnipeg operation is the largest in its global network, has said it has ended its discussions with U.K.-based BAA Aviation.
Last month DAE said it was in discussions with the U.K. firm regarding a potential combination of certain parts of its business.
On the weekend DAE issued a brief release saying it was "no longer in discussions with BBA Aviation" about such a merger.
StandardAero’s corporate headquarters is in Tempe, Arz. Its chief financial officer, Mike Scott, who is based in Winnipeg, said it’s business as usual for the firm that has about 1,400 employees in Winnipeg.
"This was a matter regarding our owners," Scott said adding that business flows are strong and there are no changes in its operations.
In addition to the engine maintenance, repair and overhaul operations, StandardAero also operates airframe services including major alterations, custom exterior and interior design, completion and paint and other services at a handful of centres in the U.S.
In addition to StandardAero DAE also operates a global aircraft leasing business.