Locatory.com to Invest $10M to Engine Stands Leasing Business
Locatory.com, an aviation IT company primarily acting as an aircraft parts locator, a part of Avia Solutions Group, has announced about its investment in a new business. The company is spreading its services portfolio and has started the leasing of aircraft engine stands globally. It is planned that in five upcoming years Locatory.com will invest over 10 million USD.
"Our company just started the business after realizing that there is a gap in the market. We understand that owning engine stands might be a luxury for many MROs and airlines, thus we decided to implement this project and invest over 10 million to its growth and the variety of stands. We start with the most popular ones and the most important part of it — we partnered with one of the leading certified engine stand manufacturers to ensure the highest quality of our product. Besides that, we will make the process smart by adding extra convenience and efficiency to the regular market standards,” says Dainius Meilunas, CEO at Locatory.com.
The company partnered with AGSE for its stand manufacturing. It will start its service by providing two options — stands for CFM56A/B and CFM56-7 engines. Locatory.com will offer a high-quality equipment lease for a preferred period so that the clients all around the world could productively carry out maintenance operations. In addition, the company will offer worldwide shipping services for all leasing orders.
The first operations already started in Europe and will advance soon enough as the first orders are being planned for Asia in 2019.