The eight-year-old Rise Aerospace, a specialist in cabin consultancy work, foresees a “huge jump” in its repair and asset management business in 2020, according to managing director Rauff Kareem. The Singapore-based MRO and project management company mostly works for lessors and lessees, serving as a bridge between them during redeliveries and deliveries. It is now managing components for two leasing companies and also manages APUs and engines for an airline.
Rise repairs the cabin parts it can repair and sends other parts onward to other MROs. It also operates exchange programs and pooling for clients, getting parts from tear downs and from the U.S. Both its repair and asset management businesses are growing, Rauff says.
The company has already opened a subsidiary in South Korea and will soon open a new facility in Vietnam. The Rise exec is seeing a growing interest in asset management from many Asia-Pacific carriers, but the level of interest depends on fleet size and age.
On the other hand, many Chines airlines tend not to favor asset management by foreign companies, instead using limited asset management programs supported by Chinese companies. “They have many constraints, such as logistics and accountability,” Rauff says. “We only work for them when they retire aircraft, and they use our spares or consulting services.”
Other Asian airlines seek asset managers mostly for engines, APUs, landing gear and selected components. “We manage a fair bit of these components in our Malaysian facility and have a plan to expand our operations in Malaysia with another facility coming up next year,” Rauff says. “We also provide repair management through the asset management program. If repairs are in our capability, we will perform the repairs needed.”
Rise employs about 150 people and has plans to boost that number to 250 in three years.