Air India And GE Aviation To Invest 90 Mn Dollar To Set Up MRO Facility (05-Mar-2010)
In order to cater for the latter''s GEnx-1B engines, Air India and GE Aviation is eyeing to jointly invest $90 mn to establish a Maintenance, Repair and Overhaul (MRO) facility in Mumbai.
Mr. Nalin Jain, Director (Indian Operations) of GE Aviation said that the company will invest $20 mn, while the remaining amount would be pumped in by Air India. GE''s investment will be spread over 7-8 years.
Both the companies has entered into an agreement, under which Air India will be licensed to perform MRO work on the GEnx-1B engine, which powers Boeing 787 aircraft. Also the GE Aviation will provide technical support to Air India.
Air India has ordered 27 GEnx-1B powered 787 planes.
Mr. Arvind Jadhav. Chairman and MD of Air India said Air India predicts a state-of-the-art facility catering to GE 90 and GEnx engines, including a new engine testing facility. He said Air India''s strong collaboration with GE will enhance the visibility of the facility across the globe and result in India becoming one of the major engine MRO players.
At present, GE has an order build up of 250 engines from India.
Meanwhile, the government last month approved Rs 800 crore equity infusion into Air India.
However, previously, the government had approved equity infusion of Rs 800 crore in Air India.
However, the airline has been incurring heavy losses for the past few years - Rs 2,226 crore loss in 2007-08 and about Rs 5,500 crore loss in 2008-09.
Previously, it was said that several pilots flying these air craft, are also on their way out, as national carrier Air India plans to phase out Boeing 747-400 and A-310 freighters.
Air India has already terminated the service contracts of 30 senior most commanders flying these planes and many more are on the chopping block.
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