SuperJet International, of which there has been scant news for years, made an announcement today. The press release states: “Abu Dhabi Investment Office (ADIO) is leading the collaboration with Mark AB Capital Investment, a UAE-based private equity company, and SuperJet International (SJI), an Italian aviation company based in Venice, Italy, to support the development of the civil aviation industry in the UAE by establishing a state-of-the-art facility in Al Ain, Abu Dhabi and transferring specific know-how and technologies.”
The release continues: “With the support of the UAE Government and the acquisition of 49% SJI shares by Mark AB Capital, SJI will become the key enabler for the development of the aircraft manufacturing industry domestically.”
“The three parties have signed an MoU, last May 31st in Abu Dhabi, where the terms of the collaboration are defined. In the first phase, SuperJet International will establish in Al Ain a new Final Assembly Line for regional aircraft to be completed by mid-2025. In parallel, SuperJet International will set up a new supply chain for all aerostructure work packages in Italy and UAE, with the aim to be completed by 2026. In the first phase, the investment is evaluated at 200 million euros, with the creation of 450 highly skilled jobs.”
“This collaboration – declares Camillo Perfido, CEO of SuperJet International – is of great value for us and represents a further step in the building of strong relationships between Italy and the UAE, finalized at the execution of aeronautical programs. We are grateful for the support received by the Abu Dhabi government through ADIO, as well as for Mark AB choice to invest in this project.”
“Abu Dhabi Investment Office (ADIO) supports and helps investors and companies to establish their business, grow and develop in Abu Dhabi. As the central government hub supporting investment in Abu Dhabi, ADIO is committed to growing the Emirates’ private sector and diversifying its economy.”
“SuperJet International (SJI) is a long-standing Italian company in the field of aeronautical systems, holding relevant European aviation certifications.”
“Mark AB Capital is a multi-family office and Proprietary Investment Fund of several large Middle Eastern family groups.”
Some thoughts:
- SuperJet has not made a delivery in a long time. We thought the business was no longer operating. The only Western fleet is the parked Interjet aircraft in Mexico.
- The Russian connection is fatal in the current environment. Moreover, Russian SSJ deliveries are rare, and where they are acquiring French-made engines is a mystery.
- But the Abu Dhabi link says something. Russians are traveling to the UAE freely despite sanctions across much of the globe.
- The SuperJet operation in Italy must be idle. The Abu Dhabi opportunity in this news is a reminder of a previous Italian aerospace flirtation with the UAE.
- Building a SuperJet FAL in Abu Dhabi is interesting. The plan is to have this structure completed in 2026. Does anyone have an idea about a customer? We don’t see anyone touching the SuperJet, given its weak supply chain and ties to Russia. This image pretty much sums it up. There are huge hurdles to overcome.
Co-Founder AirInsight. My previous life includes stints at Shell South Africa, CIC Research, and PA Consulting. Got bitten by the aviation bug and ended up an Avgeek. Then the data bug got me, making me a curious Avgeek seeking data-driven logic. Also, I appreciate conversations with smart people from whom I learn so much. Summary: I am very fortunate to work with and converse with great people.
