Indian Aero charts out Rs 2,000 cr MRO plan

Bangalore: Indian Aero Ventures (IAV), the aviation venture holding company floated by Rajeev Chandrasekhar, has chalked out Rs 2,000 crore future plan.
The company plans to have its presence in the entire lifecycle support system for an aircraft, including training pilots and MRO (maintenance, repair and overhaul) facilities.
Rajeev Chandrasekhar, MP, has shown interest in infrastructure, media and aviation support businesses after selling BPL Mobile for an enterprise valuation of over $1 billion. IAV is planning to raise funds through equity and debt.
EADS, the parent company of Airbus, has invested around $40 million in this venture. The MRO facility being set up by IAV in Delhi in association with National Aviation Company of India (NACIL) is expected to have a captive customer base of NACIL, which was formed after the merger of Air India and Indian Airlines.
13/03/08 Raghuvir Badrinath/Business Standard

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Categories: Foreign Mar 2008, Indian Aviation- In General Mar 2008, New Mar 2008