GA Telesis LLC and Finnair have concluded their agreement whereby GA Telesis has acquired part of Finnair Engine Services ("FES") and will employ 80 engine service professionals from Finnair's existing workforce. The deal is comprised of the sale of assets and transfer of personnel to GA Telesis Engine Services Oy ("GATES"). GATES has simultaneously entered into a long-term lease of all of the engine maintenance and test cell facilities from Finnair.
"We welcome GA Telesis to Helsinki Vantaa Airport, and are happy for the continued employment offered to the dedicated professionals who will form the core of GA Telesis Engines Services," said Jaakko Schildt, Vice President, Technical Operations, Finnair. "We think our quality labor force, coupled with the material solutions brought by GA Telesis, will lead to an unparalleled presence in the engine maintenance industry," he added.
"We were immediately impressed by the quality of the operations and the FES team," said Abdol Moabery, President & CEO of GA Telesis, LLC. "Our acquisition, OEM focused strategy and implementation plan will lead to greater engine overhaul capabilities, rapid growth and the creation of more jobs in Finland." He added, "GA Telesis' focus is to build upon FES' foundation of providing high quality and reliable engine services for its existing and growing customer base."
"The cornerstone of GATES' strategy will be to build upon existing engine operations coupled with GA Telesis' competitive strength in material solutions to provide high-quality customized maintenance solutions," indicated Basil Papayoti, President of GATES. "This will enable us to continue providing high-quality engine services and drive global and regional customer growth."
GA Telesis Engine Services Oy is a wholly owned subsidiary of GA Telesis, LLC. GATES will provide comprehensive repair and overhaul services for the General Electric CF6-80C2 and CFM International CFM56-5B/C jet engine models as well as repair and modification services for Pratt & Whitney PW2000 engines. Collectively these engine models constitute the greatest number of single and twin-aisle jet engines in commercial airline operation. GATES has capacity to overhaul up to 200 engines per year.
About GA Telesis, LLC.
GA Telesis is one of the world's largest providers of products, financial services and supply-chain solutions and maintenance to the aerospace industry. A global leader, GA Telesis provides structured financial services to the global aviation investment community, airlines and the defense industry while it also has extensive aerospace replacement component sales, distribution and maintenance operations throughout the United States, Canada, the United Kingdom and China. GA Telesis also provides asset management services specializing in commercial aircraft and jet engine leasing and trading with over USD $1 billion in assets under management.
About Finnair
Finnair, which celebrates its 90th anniversary this year, is specialized in fast connections between Europe and Asia via Helsinki, Finland. The airline carries close to 9 million passengers annually and connects 13 cities in Asia with more than 50 destinations in Europe. Finnair is a member of the oneworld airline alliance. In the summer of 2012, Finnair announced that they would discontinue their own engine repair operations and outsource all future engine maintenance, in line with the company strategy on focusing on their core operations as an airline.
For additional information: contact Rebecca C. Longo, Vice President of Marketing at [email protected] or visit www.gatelesis.com .
Copyright 2013 Business Wire, Inc.
