Boeing to invest $185m in Air India JV

Seattle: Boeing plans to invest $185 million in a joint venture with Air India as part of a deal for the sale of 68 aircraft, including 27 of its latest offering ~ the Boeing 787 Dreamliner.
The proposed joint venture between the world’s leading aerospace company and India’s national flag carrier will offer maintenance, repair and overhaul (MRO) facilities for Boeing 777 and 787 aircraft to third parties, according to Air India chairman and managing director, Mr Vasudevan Thulasidas.
The Boeing investment in the MRO joint venture will comprise $100 million for setting up the unit, $75 million for training and $10 million for general purposes, Mr Thulasidas, here for the Sunday roll out of the Dreamliner, told reporters.
With plans to start its first non-stop flight between India and the USA from 1 August on the Mumbai-New York route, a restructured Air India hopes to regain its position as one of the five top airliners in Asia in the next 10 years, he said.
07/07/07 IANS & PTI/The Statesman

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Categories: Air India Jul 2007, Foreign Jul 2007, New Jul 2007