UK Export Finance (UKEF) has announced support for a £20m investment in market-leading aviation experts.
Based in Leatherhead, 3TOP Aviation acquires mid-to-end-of-life aircraft and engines for onward trading, leasing and refurbishment.
As part of their operations, their aviation experts also dismantle aircraft and rebuild the associated components for onward sale to clients, helping to make the aerospace industry more sustainable.
Gareth Thomas, Minister for Exports, said: “This investment shows how we are removing barriers to trade, unleashing the UK’s exporting potential, to bring jobs, growth, and investment back to local economies like Leatherhead.
“Through our Trade Strategy, three landmark trade deals and Small Business Strategy, our Plan for Change is supporting businesses like 3TOP Aviation to expand abroad.”
Expanding the aerospace workforce
The company, which employs 18 staff in Surrey and 16 outside the UK, aims to expand into new global markets and product lines, such as new-generation aircraft.
As a result of the UKEF-backed financing, 3TOP Aviation plans to expand its UK workforce of aviation experts by 20% and relocate some of its warehouses in France and the US to a larger site in Leatherhead, bringing further benefits to the local economy.
The financing has been secured with backing from UKEF issued under its General Export Facility. This guarantee enabled HSBC UK to provide a trade finance facility of up to £20m, supporting 3TOP Aviation’s export growth.
Nina Stenning, Relationship Director at HSBC UK, explained: “3TOP Aviation is a longstanding and highly regarded HSBC Corporate Client. We are delighted to further support the business, which has gone from strength to strength since COVID, and implement a facility which significantly contributes towards their international growth plans.”
“3TOP Aviation’s story shows how our support empowers UK businesses to create prosperity at home while growing their footprint internationally,” stated Tim Reid, CEO of UK Export Finance.
“Their impressive growth in turnover from £3m to £70m in just four years demonstrates the huge potential for British firms by tapping into global markets.”
He added: “That’s where UKEF comes in: we’re here to ensure that lack of finance never stands in the way of firms achieving their true export potential.”
UKEF’s role in accelerating growth in British industries
This announcement forms part of the government’s Plan for Change, which aims to kickstart economic growth and raise living standards across the United Kingdom by supporting businesses to export and grow.
The news follows the recent publication of UKEF’s annual report & accounts for 2024/25.
Over the last financial year, UKEF provided a record £14.5bn in new financing, helping over 667 UK companies to export and grow and supporting up to 70,000 jobs.
Chris Emechete, Managing Director of 3TOP Aviation, concluded: “We are delighted to have secured substantial funding from UKEF, which helps strengthen our position as a leading UK exporter of commercial aircraft aftermarket services and allows us to exploit new opportunities around the world further.
“We are very active in the aviation market globally, so capital backing from UKEF, a major credit export agency with an impeccable pedigree and reputation, aligns perfectly with our growth plans and aspirations.”
