Abu Dhabi to manufacture its first full commercial aircraft in 2018

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Mubadala’s Aerospace Associate Director, Humaid Al Shemmari said that the company has adopted a long-term strategy with its partners in the aircraft industry to manufacture the first commercial aircraft in the emirate of Abu Dhabi within eight years from now.

Mubadala Development Company (Mubadala) is a catalyst for the economic diversification of the Emirate of Abu Dhabi. Mubadala sole shareholder is the Government of the Emirate of Abu Dhabi.

Speaking to the Emirates News Agency (WAM) closely on the heels of the signing of a multi-faceted aviation agreement with GE Aviation in the French capital, Al Shemmari alluded to Mubadala's investment in a number of world's prominent aerospace companies including Italian aerospace company Piaggio Aero Industries, in which Mubadala owns a 31pc share. This will enormously enhance the strategy of the emirate to embark on aircraft manufacturing, bringing out its first fully manufactured aircraft between 2016 and 2018; Al Shemmari pointed out.

He added that the company’s commercial strategy is built on the management of long-term, capital-intensive, investments that deliver not only strong financial returns but tangible social benefits for the people of Abu Dhabi. In doing so Mubadala is expanding the economic base of the Emirate and in turn significantly contributing to the growth and diversification of the Abu Dhabi economy.END