Item 2. Properties
ITEM 2 PROPERTIES
Our principal executive office is in Miami, Florida. In addition to our headquarters, we have the following operating locations:
Facility:
Primary purpose:
Reporting Segment:
·
Goodyear, Arizona
Aircraft MRO, Storage, Modification and Disassembly
TechOps
Roswell, New Mexico
Aircraft MRO, Storage, Disassembly, and Distribution
TechOps and Asset Management Solutions
·
Millington, Tennessee (1)
Aircraft MRO, Flight Control Surfaces and Disassembly
TechOps
·
Albuquerque, New Mexico
Landing Gear MRO
TechOps
·
Miami, Florida
Corporate Headquarters and Engineered Solutions Operations, Hydraulic, Pneumatic, PMA Operations, and Electro-Mechanical Component MROs
Corporate, TechOps, and Asset Management Solutions
·
Hialeah Gardens, Florida (2)
USM Sales, Shared Services, and Flight Control Surfaces
Corporate, TechOps, and Asset Management Solutions
·
Memphis, Tennessee
USM Sales and Distribution
TechOps
·
Dublin, Ireland
Flight Equipment Asset Management
Asset Management Solutions
·
Bridgend, United Kingdom
Regional Representative Sales Offices
Asset Management Solutions
·
Singapore
Regional Representative Sales Offices
Asset Management Solutions
To support our growth and long-term business goals, we have expanded our operational facilities;
(1) In February 2023, we leased 112,000 square feet of hangar space expanding our narrow body on-airport MRO presence. This new facility will provide additional capacity to accommodate the increasing MRO demand. Hangar renovations have progressed as planned, and we expect to commence operations in this facility in the first quarter of 2024.
(2) Effective September 1, 2022 we entered into a lease for our Miami structures shop consisting of 88,000 square feet in Hialeah Gardens, Florida, for a term expiring in 2032. This location will also serve as office space for USM sales and shared services personnel. Relocation of office personnel has been completed while the structures shop is delayed but expected to conclude during the first half of 2024.
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Our Goodyear, Arizona, Roswell, New Mexico, and Millington, Tennessee facilities are on airport locations at the Phoenix Goodyear Airport, Roswell International Air Center, and Millington Regional Jetport, respectively, and are three of our FAA-authorized repair station operations centers focusing on airframe aircraft maintenance and storage. Combined, they feature over 760,000 square feet of hangar space with a capability of dry desert long-term storage for up to 650 aircraft. In addition to having airframe maintenance service offerings at these facilities, we have four FAA-authorized repair station operations in our Rio Rancho, New Mexico, Memphis, Tennessee, and Miami, Florida facilities that provide component MRO service offerings. Collectively, these facilities support the operations of our TechOps segment.
We primarily distribute USM parts from our dedicated distribution warehouse located in Memphis, Tennessee, in addition to on-site bulk storage capacity at our Roswell, New Mexico facility. These facilities collectively provide more than 500,000 square feet of available space to efficiently manage our Flight Equipment inventories and facilitate support of our customers’ urgent spare part requirements with non-stop delivery capacity to destinations worldwide. Combined, these facilities support the operations of our Asset Management Solutions segment.
ITEM 3 LEGAL PROCEEDINGS
From time to time, we are subject to litigation incidental to our business. The information set forth under “Litigation” under Note R – Commitments and Contingencies within our Consolidated Financial Statements is incorporated herein by reference.
ITEM 4 MINE SAFETY DISCLOSURES
Not applicable.
PART II