Aviation services provider International Aerospace Coatings Group (IAC) will develop and operate a new paint hangar for widebody aircraft at Teruel Airport in Spain following approval from the local authority.
Under a 25-year concession agreement between IAC and Teruel Airport Consortium, owners of the site in Central Spain, the new facility will be the first with paint specialism at the site and will lead to the creation of up to 80 jobs once operational.
Aviation Week has contacted IAC to clarify when the facility will be operational.
“We are planning now for an anticipated shortfall in capacity within the global aircraft maintenance sector over the next three to four years,” says Martin O’Connell, CEO of IAC. “Demand for our services following the Covid-19 pandemic has soared, and we are strategically selecting locations that will support our growth as the needs of our customers grow.”
He adds: “Widebody hangars, such as our new painting facility at Teruel, are particularly important to the business, as there are a limited number of dedicated aircraft paint hangars capable of handling widebody aircraft in Europe.”
O’Connell says the company is also continuing to identify new opportunities for the business in the U.S., Europe, Middle East and Asia.
IAC, which has headquarters in Shannon, Ireland with a U.S. base in Irvine, California, operates 18 hangars located at seven airports in Europe and the U.S. Its customer base spans aircraft manufacturers, commercial airlines, lessors, cargo carriers and governments.
The company has been under new ownership since the end of last year when Tiger Infrastructure Partners finalized its acquisition of IAC. In addition to IAC, the private equity firm also bought Shannon-based Eirtech Aviation Services as part of the deal. Globally, it employs more than 1,000 people.
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