Today, SR Technics is one of the world's largest independent technical solutions provider, with capabilities covering most Airbus and Boeing aircraft types. The company evolved from the maintenance and engineering section of Swissair, previously Switzerland's national carrier. Read on to learn about the key milestones in our recent history.
Mubadala Development Company gains sole ownership of SR Technics.
Mubadala Development Company acquires majority control of SR Technics. Under the new ownership structure Mubadala Development Company owns 70% following a buyout of Istithmar's 30% shares. Dubai Aerospace continues to hold a 30% shareholding in the company. SR Technics continues to operate as an independent company under its existing brand.
SR Technics comes under new ownership. A consortium of the three United Arab Emirates-based investors - Mubadala Development Company, Dubai Aerospace Enterprise (DAE) and Istithmar World - became the new shareholders of SR Technics. With their strong experience and strategic commercial interest in the aerospace market, the new owners support SR Technics' ambitious growth plans for the future. SR Technics continue to pursue its current strategy, with the focus on integrated solutions as a key differentiator in the industry and further drives its globalization and geographic diversification.
This year has seen the completion of our transition from a traditional MRO to a global total services provider. This has been achieved through the successful market introduction of our three key integrated solutions, which offer highly attractive customised propositions for airlines: Integrated Airline Solutions (IAS), Integrated Component Solutions (ICS) and Integrated Engine Solutions (IES).
SR Technics continues to significantly strengthen its market position and build a truly global presence, with over 750 aircraft under contract from customers all over the world. The contract with easyJet marks a significant milestone in the industry.
The acquisition of FLS Industries' MRO activities in the United Kingdom and Ireland in 2004 results in SR Technics becoming one of the world's largest independent providers of airline technical services.
Following the collapse of Swissair, SR Technics is transferred to new ownership (56% 3i group, 20% Star Capital, 12% management, 12% others) with a holding structure. This marks the beginning of SR Technics as a fully independent company.
Having been the Technical Department of Swissair since its foundation in 1931, SR Technics is established as a separate company within the Swissair Group of companies