founded in 1957 in denmark . satair services range from parts supply and distribution to tailor made service provider solutions . 1 the company became a wholly owned subsidiary of airbus in 2011 . contents 1 history 1.1 1957 1.2 1960 1.3 1970 1.4 1980 1.5 1990 1.6 2000 1.7 2011 1.8 2014 2 current activities 3 references history edit 1957 edit satair was founded in 1957 . 2 on december the 23 1957 a group of businessmen keenly dedicated to the aviation industry founded a new organisation scandinavian air trading co. a s. the founder was blicher jensen a sas engineer and ten of his colleagues . together they managed to put up share capital of dkk 50 000 distributed more or less equally among the shareholders . the chairman of the company was helge w. hansen and for the early years satair was based at his home address . all aspects of buying and selling were handled by the 11 stakeholders ; the books were done by helge w. hansen s wife . 3 4 1960 edit satair expands and in 1960 it needs a real office and employees . the first employee being the secretary tove jeppesen . 4 1970 edit satair has 24 employees and annual net revenues of dkk20 million . the business continues to grow and in 1979 management decides to build a brand new warehouse and office building on amager landevej 151 kastrup denmark . 4 1980 edit satair now has 65 employees and revenues beyond dkk100 million . but in 1981 disaster strikes . satair s facilities are devastated by fire . it is just before christmas the early hours of december 22 when a fire breaks out in the old warehouse from 1967 . the fire causes several explosions and nearby residents have to be evacuated . for two hours the firefighters battled the fight but the damage was done the entire content of the warehouse was destroyed . all at an estimated loss of dkk 30 million . citation needed in 1986 it established a subsidiary in the united states and in 1988 opened an office in singapore . 4 1990 edit a heavy recession in aviation forces satair to downsize especially its activities within aircraft trade and rental . when the iraqi army invades kuwait on august 2 1990 it is the start of the first gulf war operation desert storm . at first satair finds it to be unlikely that the war will influence its business but as it turns out it puts a strain on the air traffic industry . the aviation industry as a whole reacts by putting its purchases on hold drawing instead upon its own stocks of parts . this state of the market lasts several years and the consequences are grave . satair sales drop 6 % in fiscal 1991 92 and for the first time in its history satair must cut its workforce on account of external factors . the company sheds 23 jobs 17 % of its total staff . citation needed in 1994 knud soerensen satair s ceo retires at the age of 72 after 35 years with the company . john staer is appointed his successor . john staer comes from a position as chief financial officer with ambu international a s a manufacturer of equipment for the health sector . in the 90 s satair continues to grow and sets up subsidiaries in malaysia and china and takes over companies in france and switzerland . on june 3 1997 satair a s obtains listing on the copenhagen stock exchange . 4 2000 edit in 2000 satair s revenues exceed dkk 1 billion . new concepts such as satair direct the group s e commerce concept and ipp a new service concept are launched . in 2001 satair makes the decision to merge its oem activities with uk based c.j.fox & sons ltd. and establishes satair hardware group . in 2003 satair acquires two companies lentern aircraft ltd and lentern international inc. in 2005 an agreement with us based pall corporation pall for the acquisition of the latter s distribution activities for pall products in the commercial after market in north and south america is signed . having already established offices in china and singapore satair decides to look to the east again in 2006 . the activities in singapore are expanded by buying a company called tpa pte. ltd. this acquisition gives satair local staff in korea japan and dubai . in 2008 satair acquires a 49 % holding in the chinese repair company sichuan ruibo . . 5 in 2010 satair completes the purchase of aero hardware in the usa and in 2011 it acquires aero quality sales in the uk . 4 2011 edit as of november 2011 satair a s is unlisted from nasdaq omx copenhagen to become 100 % owned subsidiary of airbus . satair is a stand alonebrand and continues its current business as an independent brand under airbus ownership . 4 2 2014 edit satair group is officially launched on january 1 2014 as the merged organization between airbus material & logistics management and satair a s. they also open a new joint facility in singapore . 6 in february satair and airbus open their first joint warehouse in singapore . 7 2 current activities edit in 2011 satair was acquired by airbus to become 100 % owned subsidiary of airbus . today satair is a part of satair group which is the result of the merged organisation between satair a s and airbus material management & logistics . 8 2 satair group was launched on january 1 2014 and acts as the common backbone of its two commercial channel brands in the aftermarket airbus and satair offering parts management parts services and parts support for all types of aircraft . satair group s headquarter is divided between hamburg germany and copenhagen and the company is led by satair group ceo mikkel bardram . 9 10 6 satair group and its two channel brands work with a common management and organisational structure a common company culture vision and mission as well as common support functions and processes . the group has more than 1 000 employees worldwide more than us 1 billion in revenue and a vision to become the global market leader in the civil aircraft parts management business in 2017 . 11 satair continues its current business as an independent brand under airbus ownership . 2 references edit 1 speed news 2011 . retrieved on 14 august 2014 . a b c d e 2 business as usual 2031 . retrieved on 22 september 2014 steensgaard nikolai . 3 key aero 27 july 2011 . retrieved on 14 august 2014 . a b c d e f g nielsen n.e. 4 project fly the satair takeover story 2011 . retrieved on 14 august 2014 5 the free library 2008 . retrieved on 19 august 2014 . a b 6 key aero 13 february 2014 . retrieved on 14 august 2014 . tegtmeier lee ann . 7 aviation week 24 september 2013 . retrieved on 14 august 2014 . kammel benedikt . 8 bloomberg 27 july 2011 . retrieved on 14 august 2014 . benedikz richard . 9 key aero 12 february 2011 . retrieved on 14 august 2014 . 10 key aero 24 september 2013 . retrieved on 14 august 2014 . paylor anne . 11 key aero 30 november 2007 . retrieved on 19 august 2014 . retrieved from https en.wikipedia.org w index.php title satair & oldid 731098081 categories aircraft component manufacturers1957 in denmarkcompanies of denmarkcompanies established in 1957hidden categories all articles with 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