GA Telesis in Advanced Discussions with Finnair about Transformational Transaction to Purchase CF6-80C2, CFM56-5B/C and PW2000 Engine Overhaul Services Business in Helsinki

FORT LAUDERDALE, Fla.—(BUSINESS WIRE)—GA Telesis LLC announced that it is in advanced talks about the potential purchase of part of the business of Finnair Engine Services (“FES”) focused on engine overhauls for third-party customers. The FES unit is capable of repairing and overhauling General Electric CF6-80C2, CFM International CFM56-5B and -5C, and Pratt & Whitney PW2000 jet engines. In April of 2012, Finnair announced the decision to outsource its own engine heavy maintenance.

GA Telesis intends to grow the FES platform to include other GE and CFMI engine models and is considering other engine types as well. The potential sale of a part of Finnair’s engine operations will save a significant number of jobs, as GA Telesis would continue to run engine service operations at Helsinki Airport. The potential transaction is subject to the successful conclusion of ongoing negotiations and regulatory and GA Telesis board approvals.

Abdol Moabery, President and CEO of GA Telesis commented that “Our recent meetings with labor groups were well received and we were quite pleased with their enthusiasm and shared vision of the new engine organization in Finland. I am excited at the prospect of working with this dynamic group.” He added that “While there are a lot of moving pieces that need to come together to make this deal happen, we remain committed to working with FES towards a successful closing of the transaction.”