Mumbai/Bangalore: On Tuesday evening civil aviation minister Ajit Singh will unveil GMR group's maintenance, repair and overhaul unit (MRO) giving a push to Hyderabad's aspirations as an aviation hub.
"A MRO has great synergies with an airport. It will also help build relationship with airlines," a senior GMR executive said explaining the rationale behind this venture. Moreover it will create an alternate revenue stream for the airport developer.
For the last three consecutive quarters the GMR group's airport division has been making a loss largely due to losses incurred at Delhi International Airport Limited.
In the last two quarters, the airport division's losses have been in excess of Rs 200 crore. But Hyderabad airport is faring well and is expected to post a net profit of Rs 20 crore in FY 2012.
Built at a cost of over Rs 300 crore the first phase of the MRO is spread over 30 acres and has three hangars for maintenace work.
The MRO has been developed jointly on a 50:50 basis by GMR Hyderabad Airport Limited and Malayasian Aerospace Engineering.
Jet Airways was to be the third partner in the venture but the airline backed out last year.
13/03/12 Aneesh Phadnis/Business Standard
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