Kochi: The aircraft Maintenance Repair and Overhaul (MRO) wing of the Cochin International Airport Limited (CIAL) is expected to make a windfall from the budget decision to waive import duties on spares and components for third party MROs.
Currently, only airlines enjoy this concession and MROs have to pay 29 to 30% duty if they were to import components or spares while servicing an aircraft, CIAL sources told TOI. The present practice is for airlines to import spares and components and hand them over to MROs that undertake their maintenance works. "When the budget proposal to allow duty waiver for import of spares by third party MROs comes into effect, CIAL MRO will be able to offer turnkey solution to airlines, and this will certainly bring in more business," the sources said.
17/03/12 Times of India
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