Orix, GMF sign maintenance contract

American firm Orix Aviation and maintenance company PT GMF AeroAsia signed an aircraft maintenance agreement on Tuesday at the Singapore Airshow in Changi.

The agreement was signed by GMF executive vice president of corporate development and marketing Agus Sulistyono and Orix Aviation technical director Lowry Donal.

“The agreement with Orix Aviation [allows] GMG to widen its market in the United States,” Agus said in a media statement.

The two-year agreement, valid until Jan. 4, 2014, will see GMF not only maintaining Orix’ Boeing 737-300/400 series aircraft but also the maintenance of the CMF56-3 engines powering the aircraft.

“GMF is already certified by the US Federal Aviation Administration [FAA] for these capabilities,” Agus said.

“For Boeing 737-300/400, GMF has the capabilities up to D-Check or overhaul works.”

Agus said that cooperation with Orix Aviation was a breakthrough for GMF in its penetration of the US market and could strengthen its position.

“The aviation industry in the US keeps shifting its maintenance work to the Asia Pacific region due to the financial crisis taking place there,” he said.

“Maintenance costs in Asia Pacific are more competitive with equal quality."

Orix Aviation owns and leases aircraft, and acts as an asset manager with a diversified portfolio of aircraft and aviation-related investments.

The company manages more than 140 aircraft, including Boeing 737s, 747s, 757s and 767s as well as the Airbus A320 series and A330/340.

With assets valued in excess of US$3.5 billion, Orix is a top-ranking lessor, in terms of fleet size and value.

Orix is also a Standard & Poor’s-rated aviation asset manager and service provider.