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."



Saudi PIF Completes $7 bln Inaugural Murabaha Credit Facility

The Public Investment Fund (PIF) logo
The Public Investment Fund (PIF) logo
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Saudi PIF Completes $7 bln Inaugural Murabaha Credit Facility

The Public Investment Fund (PIF) logo
The Public Investment Fund (PIF) logo

Saudi Arabia's Public Investment Fund (PIF) completed on Monday a $7 billion inaugural murabaha credit facility.
In a statement, PIF said the credit facility is supported by a syndicate of 20 international and regional financial institutions.
PIF head of the Global Capital Finance Division and head of Investment Strategy and Economic Insights Division Fahad AlSaif said: “This inaugural murabaha credit facility demonstrates the flexibility and depth of PIF’s financing strategy and use of diversified funding sources, as we continue to drive transformative investments, globally and in Saudi Arabia”, the Saudi Press Agency reported on Monday.
This financing complements PIF’s successful sukuk issuances over the past two years, the statement added. It also underpins PIF’s strong financial position, as well as its best-practice approach to debt financing.
PIF is rated Aa3 by Moody’s with stable outlook and A+ by Fitch with stable outlook. PIF has four main sources of funding: capital injections from government, government asset transfers, retained earnings from investments, and loans and debt instruments.