GE acquires 9.9% equity stake in TEXL

Hong Kong Aircraft Engineering Company (HAECO)reported that GE Aviation has acquired a 9.9% equity stake in Taikoo Engine Services (Xiamen) (“TEXL”). The transaction marks a milestone in the HAECO Group / GE Aviation partnership. Established in July 2008, TEXL is a joint venture between HAECO, Taikoo (Xiamen) Aircraft Engineering Company (“TAECO”), Cathay Pacific Airways and Xiamen Aviation Industry Company. TEXL provides a comprehensive range of repair and overhaul services for GE90 engines, including performance restoration, quick turn and module shop visits, engine test and component repair. In 2008, TEXL and GE Aviation entered into a long-term GE90 Branded Service Agreement, which licenses TEXL as an authorised GE90 Service Provider, GE90 Centre of Excellence and the sole holder of a GE90 GBSA in Asia. TEXL has performed engine repair and overhaul work on more than 150 GE90 engines to date, from an extensive list of GE90 operators, including Cathay Pacific, EVA AIR, Air India, GE Capital Aviation Services, China Cargo Airlines, China Southern Airlines, Emirates Airlines, Etihad Airways, Turkish Airlines, Jet Airways and Thai Airways.