Cyprus-based maintenance provider Bird Aviation expects to benefit from Israir Group’s fleet development plans along with its finance capacities after the leisure carrier recently outlined intentions to acquire a further 50% stake in the business.
Last month, Tel Aviv-based Israir announced that its subsidiary, Israir Aviation and Tourism, agreed to purchase a 25% share of Bird Aviation for €2.75 million ($2.94 million) from Israel-based shareholder Bird Aerosystems, a specialist in defense technology systems. Following this, Israir plans to buy a further 12.5% stake for approximately €1.375 million ($1.472 million).
Once the second stage is completed, Israir has a put option which can be activated two years after the completion of the second stage. In this scenario, Israir will be mandated by Bird Aerosystems to purchase the remaining 12.5% stake in the MRO provider at the same price, adjusted for an annual 3% interest.
According to the Larnaca-headquartered MRO provider, the gradual buy-back of Bird Aerosystems shares by Israir has been established since the company first invested in Bird Aviation capital in February 2023 by acquiring a 50% shareholding in the Cyprus-based MRO for around $3 million.
No changes in Bird Aviation's management and development plans will result from the acquisition, according to the company. It says Bird Aviation will continue to support the Israir fleet—comprised of 11 Airbus A320 aircraft as of summer 2024—as well as Bird Aerosystems-related modifications projects.
Capacity additions are also under way at the company's Larnaca base. The maintenance specialist plans to expand its capabilities by constructing a new hangar with three additional bays, expected by the 2025 fourth quarter.
The growth of its Larnaca operation will cater to an increase in maintenance volumes. Most recently, Bird Aviation extended its base maintenance agreement with LCC EasyJet for two more years. It covers A320 aircraft, which will undergo maintenance from November to April, accounting for 13 to 15 checks every year.
Bird Aviation confirmed last month to Aviation Week that its 2024-25 winter base maintenance season is already fully booked due to large volumes of MRO demand related to the A320 program. “The A320 worldwide fleet is progressing, with the extension of life of the A320ceo fleet also a contributing factor because of the known issues related to A320neo engines,” said Fred Pralus, CEO of Bird Aviation. “All operators and lessors are in constant search for maintenance slots, and we have to adapt to face this growing demand.”
In addition to A320 family base and line maintenance, EASA-approved Bird Aviation also offers line maintenance on A330ceo aircraft, along with aircraft redelivery and conversion services.
Pralus added that the company has been looking at capability additions and in recent times has enlarged its shop capabilities to include new workshops servicing oxygen systems, wheels and brakes and avionics. It is also looking at adding further aircraft types to its capability list. “We are evolving our certifications with new aircraft types including the Boeing 737 and Bombardier platforms, as well as new country authorizations,” he said.
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