GE Aerospace and UK Export Finance (UKEF) have announced a new programme which will benefit GE Aerospace’s Maintenance, Repair, and Overhaul site at Nantgarw.
The programme will enable airlines to access financing for their engine maintenance spend, with UKEF supporting $1 billion in financing over the next five years.
The scheme is a first-of-its-kind framework for shop visit financing for airline customers leveraging GE Aerospace’s Maintenance, Repair, and Overhaul (MRO) sites in Wales and Scotland.
Currently, there is no established banking solution for engine overhauls, and ad hoc financings to-date have been complex and time consuming.
By partnering, GE Aerospace and UKEF have created a financing framework that enables quicker decision making by eliminating the prolonged process that airlines experience with ad hoc financing options that involve multiple institutions assessing theoretical workscopes on an individual engine basis.
With predictable, multi-year financing approved upfront, airlines can better align the timing of engine overhauls with their operational needs, the partners said.
“This new programme provides airlines with a faster, more reliable way to manage investments in engine overhauls. We’re pleased to partner with UKEF on a solution that supports our customers by keeping their fleets flying and strengthens our UK operations,” said Rahul Ghai, Chief Financial Officer of GE Aerospace.
UKEF CEO Tim Reid said:
“This landmark framework shows how UKEF can work in partnership with industry leaders such as GE Aerospace, to unlock practical solutions for global customers. We are backing GE Aerospace’s world-class sites in Wales and Scotland, strengthening the UK’s position in the global aerospace supply chain, while also supporting substantial economic growth and job creation on a local level.”
Across GE Aerospace’s Wales and Scotland MRO sites more than 2,000 employees service CFM56, GE90, and GEnx engines. In 2025, GE Aerospace announced a $19 million investment for its Wales site over three years to enhance infrastructure.
Secretary of State for Wales Jo Stevens said:
“Wales has a long and proud history in aerospace manufacturing and this agreement between the UK Government and GE Aerospace is a vote of confidence in the sector in South Wales and in its highly-skilled workforce.
“This comes after the launch of our new initiative, Brand Wales, which is designed to boost global investor interest and secure more inward investment into Wales.
“This government is investing in the industries of the future and the new framework with GE Aerospace promises help boost the economy and secure more good jobs for Welsh workers.”
