- City Fajr Shuruq Duhr Asr Magrib Isha
- Dubai 05:28 06:47 12:13 15:10 17:33 18:51
Four deals worth over $4.5 million were signed on the second day of Aviation Week yesterday amid intense negotiations between industry players who, according to the organisers, are seeking opportunities to consolidate.
The Aviation Week consists of three events – Aircraft Interiors Middle East, MRO Middle East and the inaugural Aerospace and Defence Training Show.
Alison Weller, Aerospace Director of F&E Aerospace, said: "More global companies are tying up with local firms to enter the region. This is a new trend that will continue for a while as it will benefit both global as well as domestic players.
"This time round Aviation Week may not witness a huge number of deals as this is more of a networking event and it's focused on the players. We do not have any number in mind for deals but some are being planned for the week and this time the aviation sector will see more tie-ups."
F&E Aerospace is running a series of events at Dubai Airport Expo.
While the number of visitors is expected to increase marginally to 6,000 this year compared with last year, the number of exhibitors at the three Aviation Week shows remains the same at 200.
"Budget cuts have kept the number of exhibitors the same as it was last year," said Weller. "The budgets of most of the firms were decided in 2009. In all 85 airlines are participating in the shows."
One of the deals that has gone ahead involves Jordan Airmotive, which has awarded a contract to Chromalloy for the inspection and servicing of gas turbine engine components.
The companies announced a three-year deal worth $2 million (Dh7.34m) that covers commercial aircraft engines including the JT8D, RB211-524 and CF6-80C2.
US-based Chromalloy services turbine engines for MRO shops and aircraft operators. It is an operating unit of Sequa Corporation, the world's largest independent supplier of advanced repairs, coatings, FAA-approved replacement parts for turbine airfoils and other engine components for commercial airlines and military and industrial turbine engine applications.
Keep up with the latest business news from the region with the Emirates Business 24|7 daily newsletter. To subscribe to the newsletter, please click here.
Follow Emirates 24|7 on Google News.