Members of the current management team of TAE, led by General Manager Andrew Sanderson, have reached agreement with Air New Zealand to purchase the TAE Group of companies.
When the deal completes later this month, the ownership change means that TAE will be 100% Australian owned, making it the nation’s largest fully Australian-owned aviation engineering services company.
“Air New Zealand has been a great supporter throughout TAE’s history, backing all of the development activities of the company, from its fledgling days in 2000 to now being recognised as Australia’s leading gas-turbine engine MRO” said General Manager Andrew Sanderson.
“This new ownership structure allows us to now focus on our core business and develop TAE as an independent engineering and maintenance company as a 100% Australian owned venture”.
TAE’s management team will not change under the deal, retaining its strong mix of commercial, entrepreneurial and operational experience that will help set TAE up for a positive future across all of its markets and activities.
As the nation’s largest 100% Australian-owned aviation engineering services company, TAE will continue to provide maintenance and engineering support across a wide range of activities from the world’s largest airliner, to fast jets, tanks and aerial agricultural aircraft.
This change comes on the back of recent announcements of the assignment of TAE to be the Regional Support Provider for the MRO&U of the F135 engine of the F-35 Joint Strike Fighter and the ‘refresh’ contract for the AGT1500 engine of the Australian Army’s Abrams Main Battle Tank, both of which will bring positive activity to the business into the future.