AIRTANKER BUSINESS TO BE WORTH OVER £1 BILLION TO VT GROUP

AIRTANKER BUSINESS TO BE WORTH OVER £1 BILLION TO VT GROUP

Defence and support services company VT Group today welcomed the announcement that the AirTanker consortium has signed a contract with the Ministry of Defence to supply new refuelling and transport aircraft for the RAF under the Future Strategic Tanker Aircraft programme.

Through a combination of its 22.33 per cent shareholding in the operating company, AirTanker Services Limited, and direct sub-contracts with VT Group companies, VT is expected to benefit from business in excess of £1 billion during the 27-year lifespan of the programme. In addition, the Group has a shareholding of just over 13 per cent in AirTanker Holdings Ltd.

Chief Executive Paul Lester commented: “VT has played an important part in bringing this multi-billion pound project to the contract stage and we will now start work immediately to help deliver this major advance in the RAF’s refuelling and transport capability.”

VT expects to move on site at RAF Brize Norton, Oxfordshire within the next few weeks to manage development of the facilities to support the fleet of Airbus A-330 aircraft. Through its subsidiaries VT Aerospace and VT Communications, the Group will also benefit from the provision of ground support and IT services once the fleet is operational.

More than 200 jobs will be created by VT at Brize Norton through the construction phase and subsequent support activities