Ravi Menon is the promoter of Air Works, the country's oldest private aircraft maintenance company, which his father and uncle jointly set up in 1951.
In the six decades since then, Air Works has expanded globally and is now the biggest repair shop for private and charter aircraft in India. But there have been difficult times too- spurred by the tough business environment, high taxes and maintenance business moving abroad.
Menon hopes it will be smooth sailing from here on. With the civil aviation ministry proposing concessions, including service tax waiver, the maintenance repair and overhaul (MRO) industry, which had lost its edge to foreign players, is set to regain its advantage.
At present, Indian carriers outsource about 90 per cent of their repair and maintenance work to companies abroad. This is partly because of the limited capabilities of domestic service providers and partly because of the high tax structure in India.
"The proposed reforms ensure a level playing field for Indian MRO industry," says Menon.
02/12/15 Aneesh Phadnis/Business Standard
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In the six decades since then, Air Works has expanded globally and is now the biggest repair shop for private and charter aircraft in India. But there have been difficult times too- spurred by the tough business environment, high taxes and maintenance business moving abroad.
Menon hopes it will be smooth sailing from here on. With the civil aviation ministry proposing concessions, including service tax waiver, the maintenance repair and overhaul (MRO) industry, which had lost its edge to foreign players, is set to regain its advantage.
At present, Indian carriers outsource about 90 per cent of their repair and maintenance work to companies abroad. This is partly because of the limited capabilities of domestic service providers and partly because of the high tax structure in India.
"The proposed reforms ensure a level playing field for Indian MRO industry," says Menon.
02/12/15 Aneesh Phadnis/Business Standard
