Partnership on Aerospace Assets expands geographical reach in the USM market
28 September 2022, Abu Dhabi, UAE: Global Advanced Aero Solutions (GAAS), a subsidiary of Al Shaheen Aviation Holding, and AEROBAY, the all-in-one spare parts marketplace for rotary & fixed wings, today announced the signature of a partnership in asset co-investment. Under the terms of this agreement, GAAS and AEROBAY will co-finance the acquisition of an impressive range of aerospace assets, including rotable inventories, engines, and complete helicopters and aircraft.
The agreement is the first partnership GAAS has entered into to invest in aerospace assets, enabling access across the region to a digital marketplace for aviation parts through AEROBAY's e-commerce platform. The partnership serves to provide a strong inventory, which is critical for leading Used Serviceable Material (USM) suppliers, as well as an innovative platform on which to sell and distribute spare parts and surplus stocks in MENA region.
“The partnership announced today between GAAS and AEROBAY is set to transform the aviation parts supply chain throughout the Middle East and North Africa region, through the introduction of AEROBAY's innovative digital marketplace. We take great pride in enabling aircraft operators to acquire critical inventory quicker and more efficiently, while mitigating the impact of logistics hold-ups elsewhere that are often beyond their control” commented Frédéric Ollivier, Chief Executive Officer, GAAS.
Since its commercial inception in 2016, AEROBAY has grown its worldwide customer base, offering a full package of digital services in addition to its innovative fixed-wing and rotary parts marketplace. This agreement brings together AEROBAY's e-commerce and supply chain capability with the financial capabilities of GAAS and Al Shaheen Aviation Holding, a division of Yas Holding, a prominent investment and business development Group based in Abu Dhabi, further enabling the growth trajectory of AEROBAY, particularly in the MENA region.
“We are very excited to have joined forces with GAAS on this investment, which will broaden and deepen our reach in the Middle East and North Africa. Such a significant acquisition of assets would not have been possible without the financial capability GAAS brings to the table, and we now look forward to working together to revolutionize the aviation parts aftermarket in the region and beyond” said Richard Herve, CEO of AEROBAY
Against a backdrop of lingering supply chain issues following the COVID-19 pandemic, the agreement will also mean a quicker and more efficient supply of parts for aircraft operators in the MENA region, further supporting the wider industry's recovery to pre-Covid flight volumes.
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