Aerospace engineering and maintenance company TAE will soon be 100 per cent Australian owned, after the current management team bought the business from parent company Air New Zealand.
The buyout should complete by the end of March.
General Manager Andrew Sanderson said the change will allow management to focus on core business.
“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,” he said.
“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.”
TAE’s activities cover a wide range of services to the Australian aviation industry including gas turbine engine and component maintenance, engineering, manufacturing, and logistics for fast jets through to aerial agricultural aircraft.