Airbus completes sale of Vector Aerospace to StandardAero
Airbus has sold Vector Aerospace to StandardAero, to create one of the world’s biggest MRO companies.
Vector is a global aerospace maintenance, repair and overhaul company, providing support for turbine engines, components, fixed- and rotary-wing aircraft. It generated revenues of more than $700 million in 2016 and has 22 locations across Canada, the US, the UK, France, Kenya, South Africa, Australia and Singapore.
The newly combined company, which will maintain the name of StandardAero, has 42 locations across five continents, with annual revenues of approximately $3 billion.
“We are excited to join forces with the Vector team in becoming one of the largest MRO companies in the world.”
Russell Ford, CEO of StandardAero, said: “We are excited to join forces with the Vector team in becoming one of the largest MRO companies in the world. Our combined organisations are better positioned to provide the industry with more global services, expanded MRO capabilities and operational benefits to deliver faster, higher quality solutions to our combined customers worldwide.
“We look forward to joining together with the Vector leadership and employees as we begin to integrate our two organisations.”