Leading aviation service provider, Gama Aviation, has announced on Monday several contract awards. These are within its European Air & Ground divisions.
The first is an eleven-year contract that is due to commence on 01 April 2019. The contract is for the provision of maintenance and spar parts logistical support for eight government special mission aircrafts. It is suspected to deliver a revenue in the rang of £66 – £88 million over the contract period.
Next, a new five-year contract is due to commence on 01 July 2019. Under the contract, the company will support four special mission aircrafts by drawing upon a range of specialist services unique to the company’s business model. These services include aircraft modification, maintenance and flight operations. Revenue delivered by the contract is expected to be roughly £27.5 million over the period.
Finally, Gama Aviation has ordered £20 million worth of Airbus Helicopters. The 3 helicopters are expected to support an existing long term contract.
Gama Aviation is a leading aviation service provider.
CEO of Gama Aviation, Marwan Khalek, commented on the announcement:
“We are delighted with these contract awards which endorse the Company’s strength in the UK special mission market segment. This is as a direct result of our strategy to continue to build our depth of capability and breadth of service offerings to derive steady and profitable revenue growth for our European division. These medium and long-term support contracts, which we have a strong track record in winning, significantly improve the forward visibility of our revenues and enhance our earnings in the mid to long term.”
Elsewhere in today’s stock market news, Victoria Oil & Gas announced that its subsidiary has finalized a contract deal. As a result, shares in the company have jumped over 50%. Equally, Rio Tinto has completed the sale of Indonesian Grasberg mine. In the retail sector, we take a look at what might be fuelling its current crisis.
At 08:04 GMT today, shares in Gama Aviation plc (LON:GMAA) were trading at +1.67%.