Mumbai: Mahindra Aerospace, the aviation division of the Rs 56,000 crore Mahindra & Mahindra Group, is spreading its wings in India and globally.
The company is negotiating a deal to sell more than two dozen GA8s, its eight-seat piston engine-powered planes to a China-based millionaire looking to start a low-cost airline.
Mahindra Aerospace began manufacturing and marketing the GA8 aircraft in 2009 when it acquired Gipps Aero, an Australian plane maker. So far, more than 200 GA8s have been sold in Africa, the US and Australia. With each of the GA8 carrying a price tag of A$750,000 (about Rs 3.5 crore), the entire deal with the Chinese entrepreneur is likely to be in the region of A$19 million (about Rs 88 crore). The company has received orders for 20-25 GA8s from China and hopes to deliver at least two planes before the year-end.
In addition, the company is also keen on collaborating with the Indian government on its ambitious plan to develop an 80-90 seater regional transport aircraft, involving other private parties in addition to M&M. The government is holding talks with some potential suitors.
12/08/11 Aneesh Phadnis & Swaraj Baggonkar/Business Standard
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