EPCOR, a subsidiary of Air France Industries KLM Engineering & Maintenance (AFI KLM E&M), has secured a new agreement with Airbus Defence and Space to provide Auxiliary Power Unit (APU) maintenance support for the global Airbus A330 Multi Role Tanker Transport (MRTT) fleet.

Announced in a press release on October 28, 2026, the deal integrates EPCOR’s specialized APU capabilities into an established maintenance framework between AFI KLM E&M and Airbus. The partnership is designed to maintain high aircraft availability and operational readiness for military operators worldwide.

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Expanding the MRO partnership

The new APU maintenance agreement builds upon an established maintenance, repair, and overhaul (MRO) relationship between AFI KLM E&M and Airbus Defence and Space. Prior to this expansion, the collaboration already included comprehensive engine and component maintenance for the MRTT fleet.

Felipe Steinmetz, Vice President of Procurement Services at Airbus Defence and Space, noted in the company statement that the manufacturer has developed a strong working relationship with AFI KLM E&M across several areas of aircraft maintenance.

“Bringing EPCOR into this cooperation allows us to build on that experience and further strengthen the support we provide to our A330 MRTT customers. Having partners who understand our operational requirements is important to us,” Steinmetz said.

Headquartered in Amsterdam, Schiphol-Rijk, EPCOR operates as a fully-owned subsidiary of the KLM Group. The facility provides component and APU maintenance services for more than 90 airlines globally. The Airbus agreement marks a deliberate step to apply that commercial aviation expertise to the defense sector.

Rob van de Graaf, Commercial Director at EPCOR, stated that supporting the A330 MRTT fleet presents an important opportunity for the company to apply its APU maintenance expertise in a different operational environment.

“We understand the importance of reliable maintenance support for aircraft performing critical missions and look forward to contributing our capabilities to the continued cooperation with Airbus Defence and Space,” van de Graaf said.

The A330 MRTT market footprint

The Airbus A330 MRTT is a military derivative of the commercial A330 wide-body airliner. The platform is designed to simultaneously perform air-to-air refueling, troop transport, cargo delivery, and medical evacuation without requiring physical reconfiguration between missions.

According to Airbus data from mid-2026, the A330 MRTT dominates the global aerial refueling market outside the United States, holding an estimated 90 percent market share. The program has secured 91 total orders and completed 67 deliveries.

The aircraft is currently operated by 17 nations. The global user base includes Australia, France, the United Kingdom, Saudi Arabia, Singapore, South Korea, and the NATO Multinational MRTT Fleet (MMF).

European reliance on the platform continues to grow. On August 25, 2026, Spain’s Council of Ministers authorized a €5.4 billion framework agreement for a joint acquisition with Poland of at least seven Airbus A330 MRTT aircraft, according to reporting by Defense News.

Airbus Defence and Space momentum

The expanded maintenance agreement coincides with a period of significant commercial growth for Airbus’s military division. On October 28, 2026, Airbus reported its financial results for the first nine months of the year, highlighting strong commercial momentum in its Defence and Space sector.

The division reported an order intake value reaching €11.5 billion during the first nine months of 2026. This represents a substantial increase from the €6.8 billion recorded during the same period in 2025.

AirPro News analysis

We view the expansion of this agreement as a clear indicator of how aerospace original equipment manufacturers (OEMs) are increasingly leveraging commercial MRO infrastructure to support military derivatives. Because the A330 MRTT shares significant structural and systems commonality with the commercial A330 airliner, tapping into EPCOR’s existing APU expertise allows Airbus to offer military operators the scale, turnaround times, and supply chain efficiency typical of the commercial sector.

This strategy is particularly critical as the MRTT fleet grows and European nations increase defense spending and operational readiness requirements. By outsourcing specialized component maintenance to established commercial shops like EPCOR, Airbus Defence and Space can ensure higher fleet availability rates for its military customers without needing to duplicate global MRO infrastructure.

The Bahrain Economic Development Board awarded Golden Licenses to four major projects representing a combined $3.89 billion investment on November 1, 2026, anchoring new aviation logistics and maintenance ventures in the Kingdom.

The investments establish DHL’s first regional maintenance, repair, and overhaul (MRO) facility and advance Capital A’s plans to use Bahrain as a Middle East hub for its AirAsia and logistics brands. The announcement was detailed in a press release issued by the Bahrain Economic Development Board during the Gateway Gulf 2026 forum in Manama.

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Aviation logistics and MRO expansion

Under the new investment framework, DHL is establishing its first and only regional MRO facility at Bahrain International Airport (BAH) to support its growing cargo aircraft fleet. The dedicated maintenance base expands the logistics provider’s operational footprint in the Middle East.

Concurrently, Capital A, the parent company of AirAsia, is launching three major aviation ventures. These initiatives aim to enhance connectivity with the Far East and Europe, expand air cargo capacity through phased freight growth via its Teleport logistics arm, and advance in-country aircraft MRO capabilities through Asia Digital Engineering.

On November 1, 2026, AirAsia reaffirmed its commitment to the Kingdom by appointing the AirAsia Bahrain Board of Directors. Capital A CEO and AirAsia Group Advisor Tony Fernandes stated that Bahrain is strategically important as a gateway connecting the Association of Southeast Asian Nations (ASEAN) with the Middle East and Europe.

“[Bahrain] share[s] our long-term vision and have shown tremendous support, and we are honoured to have been awarded the Golden License, a clear expression of that confidence,” Fernandes said. “Their partnership will remain pivotal as we continue to expand in the Kingdom, in tandem with Bahrain’s own ambitions.”

The Golden License investment framework

Bahrain introduced the Golden License program on April 3, 2023, to attract large-scale strategic investments. The initiative provides expedited access to government services, business licenses, and building permits. Successful applicants also receive priority land allocation, infrastructure support, and a dedicated account manager from the Bahrain Economic Development Board.

To qualify for the program, companies must invest a minimum of $50 million during their initial years of operations in Bahrain or create at least 500 local jobs.

Alongside the aviation projects from DHL and Capital A, the November 2026 awards included developments from Meliá Hotels International, Infracorp, and Digital City Bahrain. The Gateway Gulf 2026 forum, where the licenses were awarded, gathered over 200 global ministerial officials, chief executives, and investors to explore high-value opportunities across the region.

AirPro News analysis

The decision by DHL to place its regional MRO facility in Bahrain, coupled with Capital A’s multi-pronged aviation ventures, signals a shift in Gulf aviation dynamics. While neighboring hubs like Dubai and Doha dominate passenger transit, Bahrain is aggressively carving out a specialized niche in logistics, cargo, and maintenance. Capital A’s strategy to link Asia with Europe via Bahrain specifically bypasses more congested Middle Eastern hubs, potentially offering a cost-effective alternative for the low-cost carrier group’s long-haul ambitions.

Global infrastructure investor I Squared Capital has entered into a definitive agreement to acquire aerospace manufacturer Orizon Aerostructures in a transaction reportedly valued at approximately $2 billion. The acquisition, announced on October 28, 2026, aims to inject capital into essential industrial infrastructure to alleviate ongoing aerospace supply chain constraints.

The deal targets a critical node in the manufacturing ecosystem for major commercial and defense programs, including the Lockheed Martin F-35 Lightning II and the Boeing 737 MAX. According to a press release issued by I Squared Capital, Orizon’s founders and senior management will reinvest a meaningful equity portion and continue to lead the company following the transaction’s expected close in the fourth quarter of 2026.

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Expanding manufacturing capacity amid supply chain constraints

The global aerospace industry is currently facing severe supply chain constraints. This pressure is driven by a commercial aircraft order backlog that exceeded 18,000 units as of June 2026, according to data from the International Air Transport Association (IATA). Concurrently, rising defense spending and the expansion of space infrastructure have intensified the demand for specialized manufacturing capacity.

Years of underinvestment have left major original equipment manufacturers (OEMs) reliant on ready-to-run suppliers with established machining centers and certifications. This dynamic has prompted private equity firms and strategic buyers to acquire seasoned vendors to alleviate production chokepoints.

Gautam Bhandari, Managing Partner and Chief Investment Officer at I Squared Capital, highlighted the necessity of supporting the lower tiers of the aerospace manufacturing base.

Expanding aircraft production requires investment in essential industrial infrastructure throughout the supply chain. Orizon provides a critical part of that infrastructure: highly specialized production capacity deeply embedded in aircraft programs that span decades.

Orizon’s growth and defense program integration

Founded in 2016 by brothers Charlie and Henry Newell, Orizon Aerostructures manufactures large, complex structural components and subassemblies for commercial aviation, defense, and space applications. Headquartered in Kansas City, Missouri, the company operates five facilities across Kansas and Oklahoma, employing over 900 highly skilled workers.

The manufacturer expanded its footprint partly through the acquisition of existing production facilities, including a former Spirit AeroSystems site in Chanute, Kansas. To support this growth, American Industrial Partners invested $50 million into Orizon Aerostructures on December 28, 2020.

The company has since secured its position as a key supplier for major aerospace platforms. On June 16, 2025, Orizon Aerostructures signed a Strategic Collaboration Agreement with Lockheed Martin Corporation at the Paris Air Show. The following day, on June 17, 2025, Orizon announced a multiyear follow-on contract for the Lockheed Martin F-35 Lightning II program. This agreement pushed the company’s backlog past $3.1 billion.

Charlie Newell, Co-Founder and Chief Executive Officer, and Henry Newell, Co-Founder and President, outlined their original vision for the manufacturer in the acquisition announcement.

Our goal with Orizon was to build something unique. For us, that meant an organically grown, vertically integrated business which could machine, process and assemble the industry’s most complex parts and subassemblies with advanced manufacturing technology to solve our customers’ biggest problems.

Infrastructure investment strategy

Founded in 2012 and headquartered in Miami, Florida, I Squared Capital is an independent global infrastructure investor managing over $60 billion in assets. The firm traditionally focuses on mid-market investments across power, utilities, transport, logistics, and digital infrastructure, maintaining a portfolio of over 100 companies operating in more than 70 countries.

The acquisition of an aerospace parts manufacturer represents a specific strategic view of the aerospace supply chain as a form of industrial infrastructure. Bhandari noted that Orizon possesses the financial and operational characteristics the firm targets.

Its exclusive, life-of-program contracts, cost pass-through provisions and demanding qualification requirements combine long-term customer relationships with significant barriers to entry—the attributes we seek as infrastructure investors.

While the official press release from I Squared Capital stated that the financial terms of the transaction were not disclosed, financial media outlets, citing Bloomberg, reported that the deal values Orizon Aerostructures at approximately $2 billion. The transaction remains subject to customary closing conditions and regulatory approvals.

AirPro News analysis

The acquisition of Orizon Aerostructures by an infrastructure fund rather than a traditional private equity buyout firm or a strategic aerospace buyer highlights a shift in how capital markets view the aerospace supply chain. Infrastructure investors typically seek assets with high barriers to entry, monopolistic characteristics, and predictable, long-term cash flows, such as toll roads, ports, and utility networks. By classifying a Tier 2 aerospace structures supplier as “essential industrial infrastructure,” I Squared Capital is signaling that established machining capacity and OEM certifications are now viewed as scarce, infrastructure-like assets.

With major OEMs like The Boeing Company struggling to ramp up production rates due to supplier chokepoints, companies that possess ready-to-run facilities, skilled labor, and life-of-program contracts hold significant pricing power and stability. Orizon’s $3.1 billion backlog and integration into decades-long programs like the F-35 Lightning II provide the revenue visibility that infrastructure funds require, potentially paving the way for similar reclassifications of critical aerospace suppliers by large-cap investment firms.