FAI Aviation Group makes forays into aircraft storage market
September 8, 2016
The FAI Aviation Group is in the process of diversifying into the aircraft storage market. According to Kate Sarsfield’s news article published at the FlightGlobal website on 5 September 2006, FAI “has broken ground on a third hangar at its base in Nuremberg, which will be used to support the company’s first foray into the aircraft storage market.”
This is definitely a mega project that will see FAI enter the aircraft storage market with a bang. The size of the hangar that is under construction is sufficient to catapult FAI into a leading regional playing field as an aircraft storage provider of choice for private aviation companies. “Upon completion in March 2017, the €6 million ($6.7 million), 4,800m2 (51,670ft2) building, dubbed Hangar 8, will boost FAI’s footprint at the site in southeast Germany to 14,000m2,” according to Sarsfield.
FAI’s top management is optimistic about the impending foray into the aircraft storage market. The Nuremberg hangar will particularly be instrumental in the launch and success of the company’s aircraft storage business. Sarsfield quotes FAI’s founder and chief executive, Siegfried Axtmann, as saying: “The increased capacity will support FAI’s expansion into the aircraft storage market.”
FAI decision to venture into this market was reportedly influenced by the growing numbers of business jet aircraft that are being put up for sale in Europe. Sarsfield quotes Axtmann as confirming this position, and he also mentions “the growing demand [from their owners] for air-conditioned hangar space in which to keep them in mint condition before a sale takes place.” The company’s is relying heavily on its brand recognition as FAI rent-a-jet’s parent company and Europe’s largest operator of air ambulance services.
Other than storage, FAI is planning to commit Hangar 8 to a variety of other related functions that will include maintenance operations for its own fleet of Bombardier aircraft. According to Sarsfield: “The line-up includes three long-range Global Expresses, five large-cabin Challenger 604s and nine midsize Learjet 60s.”