SR Technics, an aircraft maintenance company with a base in Malta, is to expand its operations with the building of a new €30m six-bay hangar at Safi Aviation Park.

A memorandum of understanding with the government was signed this morning.

The investment will create 400 new jobs, bringing the staff compliment at the company up to 560, Economic Services Minister Chris Cardona said. 

He said the company was growing steadily and the aviation sector was flourishing.

Aviation, he said, makes up around 3 per cent of the island’s GDP, employees some 1,500 people which translates into around seven per cent of all manufacturing jobs.

The industry’s success he said, was due in no small part to training and education being provided by MCAST. Malta Enterprise, he said, was also instrumental.

SR set up shop in Malta in 2010. EasyJet is its most important client, with the company serving all of the aircraft of the low fares airline.