Tuesday, January 29, 2013

Relief for business jet owners as aviation ministry scraps royalty hike


Mumbai: Business jet owners and charter flights operators won a major reprieve as the civil aviation ministry has decided to roll back a hike in royalty charged from the companies providing maintenance, repair and overhaul services (MRO) to these operators or owners.
In a letter dated Jan 7, the ministry informed stake holders of scrapping royalty charges which by a previous notification were increased by as much as 33% from 13% for MRO service providers in August 2012. The state-owned Airports Authority of India (AAI) had brought the MRO operators on a par with ground-handling service providers to increase royalty charges, a move that was widely opposed by the MRO industry.
29/01/13 Manisha Singhal/Economic Times
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