IRON MAIDEN - Bruce Dickinson's Aircraft Maintenance Business Secures £5 Million Investment

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Posted on Monday, June 17, 2013 at 07:55:03 EST

According to Wales Online, an aircraft maintenance business co-founded by IRON MAIDEN singer Bruce Dickinson is set to be pumped with a £5m investment in what will help the company have a “much wider impact across the entire South Wales aerospace industry”.

Cardiff Aviation, the aircraft maintenance and flight training organisation established last July by Dickinson and business partner Mario Fulgoni, has agreed inward investment of £5 million.

Finance Wales, the UK SME investment company and Welsh Government subsidiary, has contributed £1.6m to the project, with the remainder of the sum coming from private or privately-owned investors including Dickinson and Fulgoni.

Fulgoni, the company’s joint chief executive, said the money would allow for expansion of their senior management team as well as letting the business build on the list of maintenance and operational approvals certification it already possesses.

This will include the European Aviation Safety Agency (EASA) Part 21 Design Approval.

Finance Wales’ part in the investment came from the £150 million Wales JEREMIE Fund, and Mr Dickinson is hopeful the money will spur on the existing growth already made by the fledgling company.

Joint CEO and singer 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.”