Turkish Technic is looking to growth in Asia-Pacific and has announced a new strategic partnership with Malaysia-based MRO Sapura Technic targeting regional aircraft operators.
The agreement, signed on July 12 at a meeting in Istanbul between both parties, will see Sapura act as a local partner in the region for Turkish Technic, which has signaled it will invest in the country. Sapura has its main base in Johor and its repair capabilities include line and base maintenance services for Airbus A320 family and Boeing 737 aircraft.
While expanding operation in its Turkey home base, including the opening of new maintenance hangars at Istanbul Airport last year, Turkish Technic has long-held ambitions to grow third-party work overseas.
Turkish Airlines chairman of the board and the executive committee, İlker Aycı, says the MRO aims to distinguish itself from competitors by increasing capabilities, expanding its customer portfolio and continuing its investment and growth efforts “without cutting pace.” This has led to Turkish Technic eyeing fresh opportunities in the Asia-Pacific region.
“We are continuously evaluating the investment opportunities in the Asia-Pacific region. This project, which is due to be realized, is of great importance in terms of achieving our company's goals of increasing its market share in the global MRO market.”
Despite the COVID-19 crisis impacting Asia-Pacific’s aviation industry in areas such as fleet groundings and cross-border travel restrictions, healthy growth levels are still forecast for the region’s aftermarket by Aviation Week Fleet & MRO forecast data.
From 2021 through to 2030, a 4.9% compound annual growth rate is predicted.
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