We are seeking investor partners in providing heavy maintenance, repair and overhaul (MRO) services to ATR Turboprop Aircraft fleet operators in the region.
There are 20 ATR propeller plane types (Models 72 & 42) in operation in the Caribbean, while over 150 operate within the wider Latin American and Caribbean region.
The opportunity exists for the establishment of a Maintenance Repair and Overhaul (MRO) facility at the Camden Airfield on the island of Trinidad, for the performance of A checks, B checks, and C checks on ATR turbo prop aircraft.
Type of InvestmentJoint Venture/Partnership
The University of Trinidad and Tobago has completed the majority of the construction an Aviation Campus at Camden Airfield. This will provide aircraft maintenance and engineering training with management components.
The Campus features a hangar and other support infrastructure such as a runway and taxiway. It will accommodate ATR42/72-600s and De Havilland Dash 8 aircraft.
An ATR-approved MRO in Trinidad and Tobago can grow to provide the following suite of services:
Compared to locations in the region which sport MRO facilities, Trinidad and Tobago is one of the most cost-effective potential locations for labour in this industry.
The cost of labour in Trinidad and Tobago to operate a 300-person MRO facility is 283% cheaper than Canada and the United States. It is also 41% cheaper than Brazil and 21% cheaper than Colombia.
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Under the Income Tax Act various classes of assets can receive Wear and Tear Allowances between 10% - 40% for upkeep and maintenance of facilities.
An MRO organization established in Trinidad and Tobago can explore new markets to include fleets from the Caribbean and South America. The Government of the Republic of Trinidad and Tobago encourages international market expansion via the Fiscal Incentives Act (Chapter 85:01). The Act provides an allowance for promotional expenses of up to 150% for actual expenditure on advertisements in foreign markets, overseas distribution, travel promotions and recruitment of sales persons.
Under the Corporation Tax Act (Chapter 75:02) companies can access a tax credit of up to 150% on expenses for training and retraining of employees.
Companies can deduct the actual expenses incurred in granting scholarships to nationals who are not employees, directors, or associates of directors of the company for tertiary education.
Investors should meet the following requirements: