AACC to Launch New Rotary Landing Gears Repair Capability

AACC's new LDG repair capability aligns with main objectives of Saudi Arabia's Vision 2030 through building a robust local MRO capability - (Asharq Al-Awsat)
AACC's new LDG repair capability aligns with main objectives of Saudi Arabia's Vision 2030 through building a robust local MRO capability - (Asharq Al-Awsat)
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AACC to Launch New Rotary Landing Gears Repair Capability

AACC's new LDG repair capability aligns with main objectives of Saudi Arabia's Vision 2030 through building a robust local MRO capability - (Asharq Al-Awsat)
AACC's new LDG repair capability aligns with main objectives of Saudi Arabia's Vision 2030 through building a robust local MRO capability - (Asharq Al-Awsat)

Aircraft Accessories & Components Company (AACC), a leading military maintenance, repair, and overhaul (MRO) service provider and a subsidiary of SAMI under the Public Investment Fund (PIF), is set to introduce a cutting-edge addition to its product lineup by launching its new Super Puma and Cougar Landing Gears (LDG) repair capability.

Based in Jeddah, Saudi Arabia, Aircraft Accessories & Components Company (AACC) has established itself as a trusted military MRO provider with a strong focus on component repair.

AACC's new LDG repair capability aligns with Saudi Arabian Military Industries (SAMI) commitment to supporting local military rotary forces and achieving the main objectives of Saudi Arabia's Vision 2030 through building a robust local MRO capability.

In this regard, AACC's chief executive, Mazen Johar, said: "This is another example of Saudi Arabia's drive to localize its defense industry, drive economic diversification, and enhance national security by forging strategic partnerships with leading global defense companies like Safran."

"Through these collaborations, SAMI is providing Saudi engineers with exceptional career paths by building local capabilities across aerospace," he added.

Through its different business units and specialized shops, AACC offers a broad spectrum of services to support fighter jets, transport aircraft, training aircraft, and special mission aircraft and extends its services to cover different applications within the military and civil industries. With extensive experience in repairing various aircraft models such as F15, Typhoon, and C-130 LDG repair, AACC has built a stellar reputation for its expertise and reliability in the industry, SPA reported.

As a repair center supported by Safran Landing Systems, the world leader in aircraft landing and braking systems, AACC expands its capabilities and solidifies its position as a trusted partner.

The addition of helicopter landing gear repair further enhances AACC's portfolio, which already includes F-15 and C-130 aircraft landing gear repair. Bruno Chiarelli, Safran Landing Systems Executive Vice President - MRO, said: "We are very delighted with this partnership coming into fruition. For Safran Landing Systems, it is important that we maintain the highest standards of technical training and support to our customers. We take into great consideration that they trust in the reliability and operational capabilities of our systems."

"Therefore, AACC is a key partner allowing us to share our MRO know-how for the benefit of our operators in the Arabian Gulf. The training and accreditation of Saudi engineers and the extension of the MRO facility in Jeddah are critical steps to achieve this objective."



Gold Gains as Dollar Slips on Trump Tariff Uncertainty

Gold bullion displayed in a store in the German city of Pforzheim (dpa)
Gold bullion displayed in a store in the German city of Pforzheim (dpa)
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Gold Gains as Dollar Slips on Trump Tariff Uncertainty

Gold bullion displayed in a store in the German city of Pforzheim (dpa)
Gold bullion displayed in a store in the German city of Pforzheim (dpa)

Gold prices rose on Tuesday as the US dollar eased due to uncertainty around President-elect Donald Trump's tariff plans, with further support coming from top consumer China's central bank adding to its gold reserves for a second straight month.

Spot gold was up 0.5% at $2,648.75 per ounce, as of 1218 GMT. US gold futures also rose 0.5% to $2,660.20.

"The main factor is the softening of the US dollar over the last two sessions, which has provided some relief for the precious metal," said Ricardo Evangelista, senior analyst at ActivTrades.

The dollar index eased towards a one-week low versus major peers as traders considered whether President-elect Donald Trump's tariffs would be less aggressive than promised following a report in the Washington Post, Reuters reported.

Trump however denied the report, deepening uncertainty about future US trade policies.

A stronger dollar makes bullion more expensive for other currency holders.

Traders are setting their sights on Friday's US jobs report for Fed policy clues, along with job openings data due later in the day, ADP employment and the minutes from the Fed's December meeting on Wednesday.

Fed Governor Lisa Cook on Monday said that the Fed can be cautious about any further rate cuts given a solid economy and inflation proving stickier than previously expected.

Bullion is considered a hedge against inflation, but high rates reduce the non-yielding asset's appeal.

Meanwhile, China's gold reserves stood at 73.29 million fine troy ounces at the end of December as the central bank kept buying gold for a second straight month, official data showed.

"By re-entering the market in December, Beijing signaled that its gold acquisition program remains active—a development likely to lend continued support to the precious metal's price," Evangelista added.

Gold prices gained about 27% in 2024, mainly boosted by robust central bank purchases and Fed rate cuts.

Spot silver gained 0.8% to $30.19 per ounce, platinum added 1.2% to $944.39 and palladium rose 0.9% to $928.38.