MRO & Manufacturing
AerFin Celebrates 15 Years of Growth in Aviation Aftermarket
AerFin marks 15 years of global growth in aircraft asset management with new hubs and record revenues in 2024.
AerFin’s 15th anniversary marks a significant milestone in the aviation aftermarket sector, reflecting a remarkable evolution from a regional player in Wales to a globally recognized leader in aircraft asset management and support solutions. Founded in 2010, AerFin has consistently adapted to the shifting demands of the aviation industry, leveraging innovation, strategic expansion, and a commitment to operational excellence. The company’s journey underscores the importance of agility and vision in a sector characterized by rapid technological change, complex regulatory environments, and cyclical economic pressures.
The significance of AerFin’s growth is underscored by its ability to navigate industry disruptions, including economic downturns, supply chain constraints, and evolving Sustainability requirements. As the aviation sector recovers from global shocks and faces new challenges, AerFin’s achievements provide a case study in how specialized asset management and aftermarket services can create value for Airlines, lessors, and operators worldwide. The company’s recent expansion into new markets, record financial performance, and recognition for workplace excellence highlight the multifaceted strategies that have driven its sustained success.
This article examines AerFin’s foundation, strategic growth initiatives, operational advancements, and market positioning, drawing on official sources and expert analysis to provide a factual, neutral, and comprehensive overview of the company’s 15-year trajectory.
AerFin was incorporated in September 2010 as a private limited company (registration number 07371844) with its original headquarters in Caerphilly, Wales. The company’s initial focus was on providing service activities incidental to air transportation, a sector that was experiencing increased demand for cost-effective maintenance, repair, and overhaul (MRO) solutions in the wake of the 2008 financial crisis. Over the years, AerFin expanded its operational footprint through strategic acquisitions, investments in facilities, and partnerships. Company filings reveal a pattern of steady growth, with changes in registered office locations reflecting organizational development and increased capacity. By late 2024, AerFin had relocated to Newport, Wales, in preparation for a major headquarters expansion, signaling continued growth and ambition.
The company’s classification under SIC code 52230 (“Service activities incidental to air transportation”) reflects its broad service offering, including aircraft teardown, component trading, engine services, and logistics support. Financial charge registrations between 2022 and 2024 indicate ongoing capital investment to support these expansion efforts.
“AerFin’s evolution has been marked by strategic acquisitions and partnerships that have expanded its capabilities and geographic reach.” – Companies House filings In 2024, AerFin accelerated its global expansion strategy by establishing operational hubs in Dublin, Miami, and Singapore. This move was designed to enhance the company’s proximity to major aviation markets and improve logistical capabilities for its growing international customer base.
The Singapore hub, in particular, has enabled AerFin to strengthen its presence in the fast-growing Asia-Pacific region. Singapore’s status as a leading aviation center, combined with favorable regulatory conditions, has allowed AerFin to increase its inventory and serve regional clients more effectively. Notable achievements include engine sales to Japanese companies and the completion of complex aircraft teardown projects in Hong Kong. The Miami hub serves the North American market, which represents the largest share of the global aircraft aftermarket parts sector. This facility provides access to U.S. and Latin American clients, while the Dublin office enhances AerFin’s reach in the European Union, particularly in the context of post-Brexit regulatory changes.
“AerFin’s geographic diversification reflects the company’s recognition that success in the aviation aftermarket sector requires both global reach and local presence.” – Aviation Week AerFin’s revenue reached approximately $103-104.8 million in 2024, demonstrating robust growth and solidifying its position as a leading player in the aviation aftermarket. This performance has been driven by increased aircraft teardown activities, expanded component trading, and heightened demand for engine maintenance services.
The company’s achievements have been recognized through industry accolades, most notably its designation as the Fastest Growing International Firm in Wales at the Fast Growth 50 awards. Serving over 600 customers across six continents, AerFin has demonstrated resilience and adaptability in a competitive market.
Investments in warehousing, diagnostic equipment, and teardown capabilities have enabled AerFin to increase operational efficiency and capture higher margins through value-added services. These investments also position the company to address the growing demand for sustainable aviation solutions, including aircraft recycling.
AerFin’s operational capabilities have been significantly enhanced through the adoption of advanced technologies and the expansion of in-house MRO (maintenance, repair, and overhaul) services. The company’s new global headquarters in Newport, opening in 2025, encompasses 116,000 square feet and is designed to double engine MRO capacity to 200 annual quick-turn shop visits.
The Newport facility features state-of-the-art warehouse automation, advanced diagnostic tools, and environmentally conscious design, including electric vehicle charging points and energy-efficient systems. These advancements support AerFin’s commitment to sustainability and operational excellence.
The company’s completion of the first commercial A330-200 disassembly at Hong Kong International Airport highlights its technical expertise and ability to manage complex projects in challenging environments. This project set new benchmarks for aircraft disassembly and asset recovery in Asia-Pacific.
“AerFin’s historic A330-200 disassembly project at Hong Kong International Airport demonstrates the feasibility of large-scale teardown operations in constrained airport environments.” – MRO Management The global aircraft aftermarket parts market was valued at $48.71 billion in 2024 and is projected to reach $93.52 billion by 2032, with a compound annual growth rate (CAGR) of 8.0%. The global aircraft fleet is expected to grow 2.5% annually, reaching 36,400 aircraft by 2034. These trends are creating increased demand for MRO and aftermarket services. Regional growth is particularly strong in the Asia-Pacific market, where AerFin’s recent expansion positions it to capitalize on rising demand from airlines and maintenance organizations. Production constraints at major manufacturers, such as Airbus and Boeing, have extended the operational life of existing fleets, further boosting the need for aftermarket solutions.
The introduction of new engine technologies and the push for sustainable aviation practices are increasing the complexity of maintenance and asset management. AerFin’s investments in advanced diagnostics and inventory management systems provide a competitive edge in this evolving landscape.
AerFin’s leadership team has been strengthened by the appointments of Simon Goodson as CEO and Steven Ades as CFO, bringing deep industry experience and financial expertise. These changes reflect the company’s maturation and readiness for continued expansion.
The company’s certification as a Great Place to Work highlights its commitment to employee satisfaction and organizational culture. According to official data, 100% of employees surveyed described AerFin as a great place to work, compared to 57% at typical companies.
Strategic partnerships, such as the expanded agreement with B&H Worldwide, have enhanced AerFin’s logistics and inventory management capabilities, particularly in the Asia-Pacific region. This collaboration enables end-to-end asset tracking and efficient global supply chain operations.
“AerFin’s success is underpinned by strong leadership, a collaborative culture, and strategic partnerships that extend operational capabilities and market reach.” – Great Place to Work UK AerFin’s 15-year journey exemplifies how a combination of strategic vision, operational innovation, and leadership excellence can drive sustained growth in the competitive aviation aftermarket sector. The company’s achievements in 2024, including record revenues, global expansion, and industry recognition, highlight its ability to adapt to changing market dynamics and deliver value to a diverse international customer base.
Looking ahead, AerFin is well-positioned to capitalize on industry trends such as fleet expansion, increased aircraft retirements, and the growing emphasis on sustainability. Its investments in technology, infrastructure, and talent provide a strong foundation for continued growth and leadership in the aviation aftermarket, as the sector navigates new challenges and opportunities in the years to come.
Q: When was AerFin founded, and where is it headquartered? Q: What are AerFin’s main business activities? Q: What recent expansions has AerFin undertaken? Q: How is AerFin addressing sustainability? Q: What is AerFin’s industry recognition? Sources: AerFin Official News
AerFin’s 15-Year Growth Journey: Transforming the Aviation Aftermarket
Corporate Evolution and Strategic Expansion
Foundation and Early Development
AerFin identified a market gap in asset optimization for aircraft owners and affordable, reliable component access for operators. Its business model centered on acquiring, refurbishing, and reselling aircraft components, engines, and entire airframes, with the dual aim of maximizing asset value and supporting airline operational efficiency.
Global Expansion and New Market Entry
Record Financial Performance and Industry Recognition
Operational Excellence and Industry Context
Technological Innovation and Facility Expansion
Market Dynamics and Growth Trends
Leadership, Workplace Culture, and Partnerships
Conclusion
FAQ
A: AerFin was founded in 2010 and is headquartered in Newport, Wales, UK.
A: AerFin specializes in aircraft, engine, and component aftermarket solutions, including asset acquisition, teardown, refurbishment, and resale.
A: In 2024, AerFin opened new operational hubs in Dublin, Miami, and Singapore to enhance its global reach and service capabilities.
A: AerFin’s new headquarters features energy-efficient systems and supports sustainable practices, while its aircraft teardown and component recovery services promote circular economy principles in aviation.
A: AerFin has been recognized as the Fastest Growing International Firm in Wales and is certified as a Great Place to Work.
Photo Credit: AerFin
MRO & Manufacturing
Bombardier Acquires Velocity Maintenance Solutions to Expand US Service Network
Bombardier acquires Velocity Maintenance Solutions, adding a Delaware facility and mobile repair units to enhance its U.S. aftermarket services.
On February 9, 2026, Bombardier announced the acquisition of Velocity Maintenance Solutions, a specialized provider of maintenance, repair, and overhaul (MRO) services based in Wilmington, Delaware. The transaction, executed through Bombardier’s U.S. subsidiary Learjet Inc., represents a strategic expansion of the manufacturer’s aftermarket footprint in the high-traffic Northeast corridor.
The acquisition provides Bombardier with immediate access to a 35,000-square-foot facility at New Castle Airport (ILG) and a fleet of mobile repair units designed for rapid response. While financial terms of the deal remain confidential, the move aligns with the company’s stated objective to grow its services revenue and secure a stronger domestic presence in the United States.
According to the company’s official statement, the acquisition is designed to bolster support for Bombardier’s growing fleet of business jets, including the ultra-long-range Global 8000. By integrating Velocity Maintenance Solutions, Bombardier aims to capture more of the lifecycle maintenance market, a sector that offers stable margins compared to the cyclical nature of aircraft sales.
The deal includes significant physical and operational assets that will be integrated into Bombardier’s service network:
Paul Sislian, Executive Vice President of Bombardier Aftermarket Services, highlighted the cultural fit between the two organizations in the press release.
“Velocity Maintenance Solutions’ capabilities and customer-focused culture make it an excellent fit for Bombardier… This acquisition is part of our commitment to continually elevate our service standards.”
Velocity Maintenance Solutions has established itself as an agile player in the MRO space since its emergence around 2021. As an FAA Part 145 Repair Station, the company is authorized to perform scheduled maintenance, structural repairs, and avionics upgrades.
Prior to the acquisition, Velocity serviced a diverse range of aircraft, including models from Embraer, Dassault Falcon, Gulfstream, and Textron, in addition to Bombardier jets. The facility is known for its 24/7 emergency support capabilities, a critical service for business jet operators requiring immediate dispatch reliability.
This acquisition arrives during a complex period for the aerospace industry, characterized by both consolidation and geopolitical friction. By executing the purchase through Learjet Inc., a heritage U.S. brand based in Wichita, Kansas, Bombardier reinforces its status as a significant U.S. employer. This distinction is increasingly vital as the company navigates trade tensions, including recent tariff threats from the U.S. administration regarding Canadian aerospace products.
Expanding physical infrastructure within the United States serves a dual purpose: it insulates the company’s service supply chain from potential cross-border friction and strengthens its eligibility for U.S. defense contracts. Furthermore, in an industry facing a chronic shortage of skilled labor, acquiring a “turnkey” operation with a certified workforce allows Bombardier to bypass the long lead times associated with recruiting and training new technicians. The location in Wilmington also places Bombardier in direct competition with other major service providers at New Castle Airport, including a Dassault Falcon service center, signaling an aggressive push to dominate the Northeast service market.
The acquisition was made by Learjet Inc., a U.S. subsidiary of Bombardier.
The existing team of technicians and support staff at Velocity Maintenance Solutions will be retained and integrated into Bombardier’s workforce.
While the press release emphasizes support for Bombardier’s fleet, Velocity has historically serviced various manufacturers. OEMs often honor existing third-party contracts during transition periods, though the long-term focus typically shifts to the parent company’s products.
Bombardier Acquires Velocity Maintenance Solutions to Densify U.S. Service Network
Expanding the Aftermarket Ecosystem
Target Profile: Velocity Maintenance Solutions
AirPro News Analysis: Strategic and Political Context
Frequently Asked Questions
Who is the acquiring entity?
What happens to the current workforce?
Will Velocity continue to service non-Bombardier aircraft?
Sources
Photo Credit: Velocity Maintenance Solutions
MRO & Manufacturing
Satair and Joramco Extend 25-Year Partnership at MRO Middle East 2026
Satair and Joramco renew their 25-year supply agreement at MRO Middle East 2026, supporting Joramco’s maintenance operations and new contracts.
This article is based on an official press release from Satair and additional industry reporting regarding MRO Middle East 2026.
At the MRO Middle East 2026 exhibition in Dubai, Satair, an Airbus Services company, and Joramco (Jordan Aircraft Maintenance Limited) officially announced the renewal of their long-standing Consumables and Expendables Supply Agreement. The deal marks the continuation of a strategic partnership that has spanned more than a quarter of a century, reinforcing the critical role of integrated supply chains in the growing Middle Eastern aviation maintenance sector.
According to the announcement, the renewed agreement is designed to secure a consistent flow of essential spare parts for Joramco’s base maintenance operations in Amman, Jordan. By locking in this supply chain solution, Joramco aims to minimize “Aircraft on Ground” (AOG) risks and reduce the complexity of material management for its expanding customer base.
The partnership between Satair and Joramco is one of the most enduring in the region. For over 25 years, Satair has served as a primary provider of consumables and expendables, high-volume, low-cost parts essential for routine maintenance, to the Jordan-based MRO provider.
In the official release, the companies highlighted the operational benefits of the extension. The agreement allows Joramco to leverage Satair’s global distribution network, ensuring that parts are available precisely when needed. This “just-in-time” capability is vital for MROs (Maintenance, Repair, and Overhaul providers) striving to offer competitive turnaround times to airlines.
A primary focus of the renewal is the mitigation of supply chain disruptions. By outsourcing the management of consumables to Satair, Joramco can focus its internal resources on heavy maintenance and engineering tasks rather than logistics. The agreement reportedly covers a comprehensive range of Airbus and Boeing fleet requirements, aligning with Joramco’s diverse capabilities.
“This continued partnership with Satair ensures we have the right parts at the right time, allowing us to deliver superior turnaround times to our global customers.”
, Statement attributed to Joramco leadership regarding the renewal
The renewal comes amidst a flurry of activity at MRO Middle East 2026, where both companies have announced significant independent expansions. The event, held on February 4–5, 2026, has served as a platform for major industry shifts in the region. According to industry reporting from the event, Joramco has also secured a major five-year heavy maintenance agreement with the German leisure carrier Condor. This deal will see Joramco performing base maintenance on Condor’s entire Airbus fleet, including the A320ceo, A320neo, and A330neo. Additionally, Joramco celebrated the first graduates of its Structured On-the-Job Training (SOJT) program, a move aimed at addressing the global shortage of skilled aviation technicians.
Simultaneously, Satair has expanded its footprint in the sustainability sector. Reports from the event indicate Satair signed a Memorandum of Understanding (MoU) with GAMECO (Guangzhou Aircraft Maintenance Engineering Co.) to enter the Used Serviceable Material (USM) market, addressing the rising demand for cost-effective and sustainable parts solutions.
The renewal of the Satair-Joramco agreement highlights a critical trend in the post-2025 aviation landscape: the prioritization of supply chain resilience. In an era where global parts shortages have frequently grounded fleets, MRO providers are increasingly moving toward long-term, integrated agreements with major distributors rather than relying on spot-market purchasing.
Furthermore, the Middle East’s trajectory as a global MRO hub is evident in these announcements. Joramco’s ability to secure European contracts like the Condor deal, backed by a robust supply chain from Satair, suggests that regional players are successfully competing on a global scale by combining geographic advantages with high-grade logistical reliability.
Satair and Joramco Extend 25-Year Supply Chain Partnership at MRO Middle East 2026
Strengthening a Quarter-Century Alliance
Operational Efficiency and AOG Reduction
Broader Context: MRO Middle East 2026 Developments
AirPro News Analysis
Frequently Asked Questions
Sources
Photo Credit: Satair
MRO & Manufacturing
Joramco Renews Maintenance Agreement with mas Cargo Airline for 2026
Joramco extends its maintenance contract with Mexican cargo airline mas for heavy checks on Airbus A330 freighters throughout 2026 at its Amman facility.
This article is based on an official press release from Joramco.
Joramco, the Amman-based aircraft maintenance, repair, and overhaul (MRO) facility and engineering arm of Dubai Aerospace Enterprise (DAE), has officially announced the renewal of its maintenance agreement with mas (formerly MasAir), a prominent Mexican cargo airline. The agreement was finalized and signed during the MRO Middle East 2026 exhibition in Dubai, marking a continuation of the strategic partnership between the two entities.
Under the terms of the renewed contract, Joramco will perform heavy base maintenance checks on the mas fleet of Airbus A330 freighters. The work is scheduled to take place throughout 2026 at Joramco’s facility at Queen Alia International Airport in Amman, Jordan. This announcement underscores the MRO provider’s increasing traction in the global cargo sector and its ability to secure recurring business from international carriers outside its traditional regional stronghold.
According to the company’s announcement, the new deal focuses specifically on heavy base maintenance, often referred to as C-checks, for the carrier’s Airbus A330 fleet. These checks are critical for ensuring the continued airworthiness and operational reliability of the freighter aircraft, which are essential to mas’s global logistics network.
This renewal follows a successful initial collaboration established relatively recently. Joramco and mas first formalized their partnerships in October 2025 at the MRO Europe exhibition in London. That initial agreement covered maintenance checks that began in December 2025. The rapid renewal, signed just four months later, suggests a successful execution of the initial checks and a deepening of the business relationship.
In a statement regarding the renewal, Joramco’s leadership highlighted the significance of the repeat business.
“We are pleased to welcome more aircraft from mas at Joramco. This agreement reaffirms Joramco’s position as a trusted Global MRO provider of choice.”
, Adam Voss, CEO of Joramco
The agreement with mas aligns with Joramco’s broader strategy to expand its global footprint. By securing a renewal with a Latin American carrier, the Jordan-based MRO is demonstrating its competitiveness on a global scale, attracting airframes from the Americas to the Middle-East for heavy maintenance. The timing of this renewal is notable within the wider context of the MRO industry’s capacity constraints. In late 2025, Joramco inaugurated “Hangar 7,” a significant infrastructure expansion that reportedly increased its capacity to 22 parallel maintenance lines. This expansion appears to be paying dividends, allowing the facility to accommodate the “more aircraft” referenced by CEO Adam Voss.
Furthermore, the cargo market remains a demanding sector requiring high asset utilization. For a specialized Cargo-Aircraft airline like mas, which operates a modernizing fleet of Airbus A330 Passenger-to-Freighter (P2F) aircraft, securing reliable MRO slots is a strategic priority. The quick transition from an initial contract in late 2025 to a full-year renewal for 2026 indicates that Joramco has successfully met the technical and turnaround time requirements demanded by the cargo carrier.
Joramco: A subsidiary of Dubai Aerospace Enterprise (DAE), Joramco has operated for over 60 years. Based in Amman, Jordan, it provides airframe maintenance, repair, and overhaul services for Airbus, Boeing, and Embraer aircraft.
mas: Headquartered in Mexico City, mas (formerly MasAir) is a specialized cargo airline operating scheduled and charter freight services across the Americas, Europe, and Asia. The airline has been actively expanding its capacity with Airbus A330 freighters to support its international network.
Sources:
Joramco Extends Maintenance Partnership with mas Cargo Airline for 2026
Scope of the Renewed Agreement
Strategic Context and Capacity Expansion
AirPro News Analysis
About the Companies
Photo Credit: Joramco
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