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MRO first to sign lease in Dubai
By: David A. Lombardo
Caption: Livewel Aviation Services has signed the first lease for space at the newly launched Dubai World Central Aviation City on Al Maktoum International Airport,
Word Count: 209
Livewel Aviation Services has signed the first lease for space at the newly launched Dubai World Central Aviation City on Al Maktoum International Airport, slated to become operational by the end of next year.Under the terms of the agreement, India-based Livewel Aviation Services will invest $80 million in a 258,000-sq-ft maintenance, repair and overhaul (MRO) facility scheduled to be operational by 2009. According to the company, it will be the largest MRO center in the world.“India’s expertise in the $41 billion global MRO market is highly respected worldwide, and our agreement with Livewel will bring in the right resources and personnel to this region,” said Abdulla Al Qurashi, CEO of DWC Aviation City. “With the Middle East MRO market growing at eight percent annually over the next five years, DWC Aviation City has been launched at an appropriate time as demand is expected to grow at a compound annual growth rate. With newly placed airline orders every year, the region’s aviation services industry is taking off to a good start.”Livewel’s facilities will carry out aircraft heavy maintenance for wide- and narrow-body aircraft. The company anticipates employing approximately 500 people during the first year of operations and will cater to customers within the Middle East, India and Europe.