Member Article

Iron Maiden man's aviation business scoops £5m investment

Cardiff Aviation, the maintenance business co-founded by singer and pilot Bruce Dickinson, has received £5m investment.

The firm was established by the Iron Maiden lead singer last July and his business partner Mario Fulgoni, and will now benefit cash private investor and Finance Wales cash.

Mr Fulgoni, said: “This means Cardiff Aviation Limited will be permitted to manufacture and certify aircraft parts alongside our maintenance and training operations, thereby providing us with a full opportunity to exploit the range of technical equipment and expertise we acquired in taking over Twin Peaks from the RAF, and in establishing Cardiff Aviation.”

The money will allow for expansion of their senior management team as well as additions to the firm’s service offering.

Joint CEO Mr Dickinson, who is himself a 7,000 hour Boeing 757 pilot, said: “The Welsh Government has played a fantastic role in a difficult economic environment in providing tremendous support and enthusiasm. Finance Wales’ long-term backing is the fuel not just to put St Athan on the map, but has the potential to create a consequentially much wider impact across the entire South Wales aerospace industry.

“As for Cardiff Aviation, the first key role we plan to fill is that of commercial director. We will follow up with expansion of the operational and technical teams to address our current growth trend and increasingly lucrative contracts with both UK and international aviation businesses. We also plan to invest in more engineering equipment to supplement and enhance the already excellent technical capability at Cardiff Aviation.”

Cardiff Aviation will now target the European Maintenance, Repair and Operations market, which is reputed to be worth $2bn as airlines continue to outsource fleet maintenance.

Gerallt Jones, head of corporate and banking at Hugh James, the law firm engaged as legal advisers on the deal, said: “It is very pleasing to see such an ambitious business establish itself in Wales and contribute to the rapidly expanding aviation sector in the region.

“We have worked with numerous aviation clients in recent years and we are committed to helping businesses, like Cardiff Aviation, attract investment and grow in a sector which has the potential to provide major employment opportunities and considerable economic benefit to Wales.”

This was posted in Bdaily's Members' News section by Tom Keighley .