AI, Boeing MRO pact likely in 3 months

Air India and Boeing, according to industry sources, are seeking a majority stake in the proposed maintenance, repair and overhaul (MRO) venture that is supposed to come up at Nagpur.
The two firms are yet to find a third partner for the JV, sources said. Lufthansa Technik, Essar Group and SIA Engineering are said to be in the running.
Also, the memorandum of understanding may be signed within three months.
However, Jitendra Bhargava, executive director, corporate communications, Air India, told DNA Money, "All we can say at this moment is that we are making a steady progress. I regret we cannot share any more details on the MoU till it is finalised or sealed."
Once operational, the venture will be able to undertake the entire range of MRO activities, including structural repairs and interior modifications to aircraft.
Industry sources estimate Boeing's investment in the MRO venture could go up to $185 million. The aircraft manufacturer, say analysts, is keen on taking advantage of India's rising MRO requirement.
19/06/08 Madhumita Mookerji/DNA MONEY/Sify

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Categories: Foreign Jun 2008, NACIL Jun 2008, New Jun 2008