SINGAPORE—Asia Digital Engineering (ADE), the engineering arm of AirAsia parent Capital A, has secured a $100 million investment from hedge fund OCP Asia Ltd., as it prepares for the construction and opening of its new 14-line aircraft maintenance hangar facility in Sepang, near Kuala Lumpur.
The new hangars are slated for a 2024 second-quarter opening.
Capital A added that the cash will also be allocated for ADE’s “further business expansion in other verticals and geographical markets.”
“We believe ADE, with its best-in-class engineering capabilities, technology-driven value proposition and experienced management team is well positioned to be a leading aviation MRO player in the region,” OCP Asia founding partner Teall Edds said. “We are very positive on the recovery of the aviation industry following the challenges of the past three years, and we see the MRO sector as a critical element within the aviation value chain and a key beneficiary of the post-pandemic recovery of global air travel.”
ADE also commenced operation of a new facility at Johor Bahru Sinai airport in February, opening its doors to other airlines on top of serving AirAsia group. The 5,000 m² (54,000 ft.²) hangar is currently able to support MRO activities for both Airbus A320s and A330s.
