Part 145 Certification to Undertake Maintenance

RNS Number : 0178P

Hangar 8 Plc

28 September 2011

 



28 September 2011

HANGAR 8 PLC (AIM: HGR8)

("Hangar8" or "the Company")

Part 145 Certification to Undertake Maintenance

Hangar8 proudly announces the award, from the European Aviation Safety Association ("EASA"), of a Part 145 Approval to allow Hangar8 to undertake in-house line-maintenance from permitted aircraft.

At the time of the Company's IPO in November 2010, Hangar8 stated its intention to internalise its then wholly outsourced aircraft maintenance in order to improve operating efficiency, create a new revenue stream and provide a foundation for a new business - in the UK and internationally - that could seek maintenance business from third parties.  Today Hangar8 announces that the process to build such a business has commenced with the award of a Part 145 Approval from EASA in respect of aircraft in its fleet manufactured by Hawker and Cessna.  Hangar8 expects to secure certification from EASA for all remaining aircraft types in its fleet in due course.

Historically, Hangar8 has outsourced the maintenance of its growing fleet to third parties.  With this award, the Company will now be able to begin to take this work in-house generating savings for Hangar8 and its aircraft owner customers. In the period to 30 June 2011, the Company spent approximately £1m on outsourced maintenance for the Hawker and Cessna aircraft it operates. The Company intends to make further investment in the qualified engineering personnel and equipment necessary to achieve EASA Part 145 certification for all aircraft types in its fleet.

Dustin Dryden, Chief Executive of Hangar8 commented:

"I am pleased to announce the next step in our strategy to become a broad based provider of aviation services.  This certification allows us to better control the quality of maintenance we can offer to our customers and provides us with the opportunity to generate further savings for them.  It will also mean that we can begin to fulfil our ambition to provide maintenance services overseas as well as domestically, which is the next logical move for us as an international aviation business."

For further information please visit www.hangar8.co.uk or contact:

Hangar 8 plc	Tel: [phone]
Philip Brady / Dustin Dryden
Daniel Stewart and Company plc	Tel: [phone]
Paul Shackleton / James Thomas
Tavistock Communications	Tel: [phone]
Simon Hudson / Simon Compton

NOTES TO EDITORS

About Hangar8:

Hangar8 is one of Europe's largest operators of privately owned passenger jet aircraft.  With worldwide capabilities, Hangar8 operates some of the newest, safest and most desirable aircraft available for those who appreciate and understand the value of provenance. With aircraft based worldwide and fleet bases at Abuja, Almaty, Amsterdam, Biggin Hill, Dubai, Edinburgh, Farnborough, Guernsey, Jersey, Kiev, Lagos, Luton, Maribor, Moscow, Mumbai, Nice, Oxford and Sochi, Hangar8 is not only ideally situated but has at its disposal some of the finest terminal facilities.

Hangar8's ambition is to have the right aircraft within one and a half hours of any customer wherever they are in the World, outside the Americas and Australasia.  The Company plans to achieve this through organic growth and through consolidating the fragmented sector in which it operates.

At present, Hangar8 manages and operates 32 private jets - a modern fleet maintained to the highest standards.  Hangar8's aircraft types differ in size and range offering a complement of capabilities from short European hops to trans-continental voyages.   Hangar8's clients come from a wide variety of backgrounds including, corporate music, sport and government and, all of whom expect and receive the same level of exemplary service.

Established in 2002, Hangar8 manages the largest global fleet of chartered Hawkers and is the first European operator of the Hawker 4000, the most advanced super-midsize jet in the world.  It was also the first operator to take delivery of an European registered Embraer Lineage 1000 private jet, the longest-cabined private jet available for charter in the UK.

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