July 24, 2013 – Beijing, China – GA Innovation China (“GAIC”), the newly formed joint venture between GA Telesis, LLC and Air China Ltd celebrated together with Beijing Capital International Airport Co., Ltd (“BCIA”) and Aircraft Maintenance and Engineering Corporation (“AMECO”) the start of their first commercial aircraft teardown project involving a Boeing 747-400 aircraft acquired from Air China. All three parties held a ceremony alongside the 747 aircraft in AMECO’s main hangar to kick off the teardown project and sign the airframe sale agreement between GAIC and BCIA.
The aircraft will be disassembled by AMECO and the engines will be exported to the United States. GAIC will select parts derived from the disassembly and warehouse them in Beijing for sale in both China and the rest of the world. The remaining airframe has been sold by GAIC to BCIA for utilization in fire department and security drills.
GAIC is the first company in China whose core business is to maximize asset values through the teardown, disassembly, repair and sale of used aircraft, engines and components. “We offer competitively priced teardown services here,” said Mark Atkeson, General Manager of GAIC. “We have worked with CAAC, China Customs and airport authorities to facilitate our local teardown solutions.”GAIC offers part-out services in China, creating the greatest value for local airlines, MROs and lessors.
GA Innovation China is a subsidiary of Air China Ltd and GA Telesis, LLC. GA Innovation China is China’s first integrated asset management company that maximizes aircraft and jet engine values by using asset disassembly strategies. Founded in 2013 by its two market leading shareholders, GAIC is fast becoming a powerful resource for airlines and financial institutions in China.
About GA Telesis
GA Telesis is a worldwide leader in providing support services to the commercial aerospace industry. With financial, supply-chain, component and heavy jet engine MRO businesses spanning the globe, GA Telesis is recognized as a pioneering leader in solutions-based services in its sector. As an innovator, GA Telesis is one of the few independent companies in the world capable of providing a total-support-solution to their customers from their front door with several fully integrated operations throughout North America, Europe and Asia. GA Telesis also provides leasing and asset management services and maintains an extensive portfolio of leased assets exceeding $1 billion in value.
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