Hey there, time traveller!
This article was published 26/8/2013 (1279 days ago), so information in it may no longer be current.
The owner of StandardAero has confirmed that it is in preliminary talks with a large British aerospace firm about a possible merger.
Dubai Aerospace Enterprise (DAE) Ltd. confirmed it is in preliminary discussions with BBA Aviation regarding a potential combination of certain parts of its business.
DAE, which is partly owned by the government of Dubai is not providing any other details.
In addition to StandardAero, DAE also owns and operates an aircraft leasing operation.
StandardAero’s largest operation is its Winnipeg plant where its gas turbine engine maintenance, repair and overhaul operation employs about 1,400 people of DAE’s total workforce of about 3,700.
Headquartered in Tempe, Ariz., StandardAero also operates aircraft completion and renovation businesses with locations throughout the U.S.
BBA Aviaion specializes in providing aircraft services such as refuelling, baggage handling and de-icing.
The U.K.’s Sunday Times has reported that BBA Aviation already earns a significant portion of its profits in the American market.
The British paper suggests the deal could be worth in the neighbourhood of $2.1 billion for StandardAero.